RE:RE:Canada Nickel Secures US$10 Million Short Term Loan Not what we were expecting but was also expecting nothing til the new year too. On one hand the loan was only for $10 million and due in April. It was from Auramet a highly credible loan facilitor not some shady loan company to desperate businesses.
One the other hand, it does leave open the question the possibility that maybe more suitors came knocking that made CNC step back and look at all the offers ? All speculation on my part but Mark has said that the carmakers talks have been heating up the past month.
We also all know every carmaker is committing 10's of billions of $$$ over the next few years for EV's. This is a serious big boys game going on right now for supply chain metals and who has the biggest frickin nickel sulphide deposit globally since the 60's/70's ?
If this was a one year loan for $30 million I would be concerned but this is a short term loan to get us over the Christmas hump til the strategic partner deal(s) can be made not under a year end timeline pressure.
About Auramet
Auramet is one of the largest physical precious metals merchants in the world with over $22 billion in annual revenues and provides a full range of services to all participants in the precious metals chain, from extraction and production to manufacturing and consumption. Auramet is a private company established in 2004 by a team who had worked previously together since 1989. Their business is comprised of three main activities: physical metals trading, metals merchant banking and advisory. Auramet has built a consistently successful and prominent franchise in the metals space on the back of an experienced management team that has proven to be innovative and capable of delivering the highest quality service to participants in the sector. In fiscal year 2020, it purchased over 6 million ounces of gold, 70 million ounces of silver and 3.2 million ounces of PGMs sourced from a diversified base of over 75 mining companies, 15 recycling companies and 20 refineries/smelters (with none comprising more than 5%). Auramet has also provided term financing facilities in excess of $850 million to date in the mining sector and is looking to grow its capital investment business in the precious metals and battery-related metals mining space.