RE:RE:RE:RE:RE:New Press Release - Power Nickel Presents Nisk - 24 And Beyond at Red Cloud Webinar SeriesPN signed contract with CVMR in August 2023 to co-ordinate advanced bench scale, piloting and engineering studies to build nickel powder refining operation at NIK main. CVMR bought some shares at 25 cents through a flow through placement. PN paid CVMR CAD 2.25 million at that time to do this work. CVMR also participated in the JUne 2024 flow through placement and purchased shares at 566 cents along with Robert Freidland and Rob McEwen. Though these two purchases CVMR owns 4% of the PN shares.
CVMR had a number of deliverables. They will release a feasibility study THIS MONTH which is the culmination of that work.
PN has no stake in CVMR, no stake in the CVMR refinery being built in Texas or in the other 18 CVMR refineries world wide. The details on how any proposed Nisk nickel powder refinery would be structured financially may be more clear in the upcoming feasibility study - in terms of financing and terms of any joint venture. It is clear that CVMR would build and operate such a refinery as PN has no expertisre in these areas.