Canada Nickel Company Inc V.CNC

10 million Auramet loan

[apapas1973]

Thanks to those that posted this. I hadn't seen it. Very odd to say the least. A loan at that price for short term. This sounds to me like a deal is about to be announced shortly and this loan is a bridge loan to get them by until papers are signed and the deal is made public. A small loan like this makes no sense. This tells me there's money coming in from somewhere else and this will get paid off. Curious how we open tomorrow. A big run and it's game on. GLTA.

[EndZonefor7]

Agreed apapas. Very bullish. You don't do another loan deal with a timeline with that kind of interest unless you knew what's coming. CNC is in the driver's seat IMHO. We all know the critical minerals crunch is on for all of North America. All we need is the feasibility study.

[DrNo1962]

Well well well... Some things don't change here. Last $10M loan was just before $25M financing that was supposed to take them to feasibility. BTW how has share price performed over that period? Yet same old pumpers here still clinging to their obsession with CNC. Sad.

[GnuckyT]

Sure you do.  If you used all your money and just found out that you have not much to mine this could be he last kick at the can where you either hit the jackpot or you pack up and call it the day and stick a fork in this stock.

[idlefreebird]

apapas, CNC did the same thing before the $50 million loan and paid back the $10 million right awat leaving them $40 million..now this money should get them into new year and at that point feasibility will be done and a rerate will follow then they can do another raise at higher share price for less diluion..maybe a car deal or battery deal as well..but yes good deal and 1% interest is good

[Leo1965]

It's 1% interest per month! I don't call it a good bargain.

[N3tPr0phet]

It's 1% per month with a 2% origination fee. Annualized, that's close to credit card rates. Before accounting for the value of the warrants.

[apapas1973]

Yes it's not a good deal n3t. That's why it's short term and it also tells me they did it because it's getting payed off quick. Possibly even before the January deadline. They must be expecting money coming in from somewhere else or they wouldn't have done this.

[EndZonefor7]

That's what large short term loans cost. A $20 billion revenue lender could come in handy down the road when they want to raise cash for the mine at much more favorable terms I'm sure.   Auramet has also provided term financing facilities in excess of $900 million to date in the mining sector and is looking to grow its capital investment business in the precious

[apapas1973]

Agree Endzone.

[PCGuy10]

Why do they even need this load at all?  The last financing as over subscribed to the max for $50million, minus the last $10Milion Loan. That left us $40Milloin to get us to the Fesibility Study? Could someone please explain?

[N3tPr0phet]

It's a tad minor, but the Auramet Loans are in USD while the bought deal was in CAD. CAD equivalent of the loans was/is closer to $13M. Last Financial Statements released were as at April 30th. July 31 should be out soon-ish, but probably won't capture the full picture of spend, because August is prime drilling season.

[idlefreebird]

pc, there driling on several properties ..glta

[CravingProfits]

PCGUY.....Also, aside from the drilling, permits, feasibility studies, etc, it is my impression Mark is moving forward at a verry quick pace from day one. Look at where CNC is already as far as developments so early since discovery. Other  small cap explorers would probably drag this {10 million} into a few years of slow development and dillution to shareholders, a few million dollars at a

[EndZonefor7]

Good points Craving. Call me bias but CNC is in a much better position than the Ring of Fire as our road access would be less complicated as well as enviromental process. There's a lot of water ways in the Ring of Fire. The ROF road will take the better part of 10 years to build. It will happen but my gut feel is we are further head in the process, permitting etc as you mentioned but we are

[GnuckyT]

Ten years to build with zero cost thanks to government money.  The Ring of Fire is an economic viable play.  

[CravingProfits]

Gnucky T....I'm thinking 10 years is going to be behind the needs of nickel hopefully. Glta

[apapas1973]

Lol. Craving. It seems you still can't catch a break. Keeps going lower after you buy. For what it's worth I think there's a deal coming soon and your price will look great in a short while.

[CravingProfits]

apapas...I`m only averaging down while I can. Let`s hope we have reached near the bottom! GLTA