CNC PP Money
Of the $48,245,000 of new money in the treasury (if the Over-Allotment Option is exercised in full) $19.2 million will be used for Drilling. Feasibility Study: $4.2M
Net Zero / Metallurgy: $900k
Environmental, Permitting, and Community Engagement: $1.8M
(From Sedar)
With the Canadian and US government’s - and several global ESG ETF’s , allocating tens of billions of dollars to net zero projects, CNC stands out near the top of the Nickel list. It’s the largest Canadian base metal discovery since the 70’s.
Potential PP Participants:
Decarbonization enthusiast Barbara Ann Bernard (also known as woman of the year at the 2018 World Economic Forum), is a huge fan of CNC, and says that Canada should be very proud of what they’ve got.
Ninepoint Holds 3.5% position of CNC in one of their funds (Sub Advised by Sprott Asset Management), and may want more.
Cantor, Echelon and Haywood took substantial positions in a few CNC PP’s. Chances are they are in this one too.
Cantor (did over $6B with Sprott in 2020)
Cormark, Mackie, Research Capital will most likely show up as well, considering their $6 to $7.30 targets.
Look for dozens of other global funds:
@Riptide from CEO.CA on March 10:
“The financing that was just done for $25 million got increased to $45 million from what I heard they had orders for over $100 million Dollars in the first few hours from 30 of the biggest and best funds from around the world.”
Benchmark founder Simon Moores recently said that automakers will “need to become miners”
Potential Strategic Candidates:
Mercedes, Volkswagen, GM, Ford, Tesla, Toyota, Hyundai, Posco, LG Chem, BHP, Glencore, Vale, Rio Tinto, Nornickel, Anglo
Benchmark forecasts that by 2030, nickel sulphate supply will fall short of demand by nearly 400,000 tonnes