The company have amassed 1,025,000 shares in Premium Nickel Resources Corporation.

Premium Nickel Resources Corporation (PNR) owns three fully permitted nickel-copper-cobalt (Ni-Cu-Co) mines, currently on care and maintenance, in Botswana.

In February 2022, after two years of due diligence and negotiations, PNR announced that it had concluded the purchase from the Liquidator of former BCL Ltd producing assets, Selebi North and Selebi Main Mines, and the former Tati Nickel Mining Company’s Selkirk Mine.PNR will now progress the redevelopment and modernization of the remaining resources to produce two separate Ni and Cu commercial concentrates.The two separate concentrates will comprise >30% Cu and >10% Ni, with a payable cobalt tail.The concentrate will be designed to exceed the highest demands from the EV market for transparency in sourcing green metal supply.

Selebi North and Selebi Main Mines

  • An independent resource consultant who undertook economic analysis for PNR has conservatively estimated a non-compliant resource of ~15.9Mt @ 0.92% Ni and 1.37% Cu.
  • Over the coming months, PNR will upgrade inferred resources to indicated resources by in-fill drilling, as well as testing the down-plunge extension of Selebi North, and exploring the potential high-grade corridor that connects Selebi North and Selebi Main.

On 26 April 2022, PNR announced that it had entered into a definitive amalgamationagreement with North American Nickel Inc. (TSXV: NAN), which will see PNR “go-public” by way of a reverse takeover of NAN.

Under the amalgamation, PNR shareholders will receive 5.27 shares in NAN for every 1 share held in PNR. Following the amalgamation, Evrima will hold 5,401,750 shares in the enlarged PNR/NAN entity.

Shares in NAN are currently suspended from trading whilst the RTO transaction with PNR completes. However, its shares last closed at $0.58.The enlarged PNR/NAN vehicle is well funded, with a combined c.C$27.7 million having been raised between each of PNR and NAN in April 2022 ahead of obtaining shareholder approval for the RTO to proceed.

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