Belvedere Resources (TSX: V.BEL, Stock Forum) shares climbed 38% to 22 cents on Thursday after the junior miner reported that its wholly-owned subsidiary, Belvedere Mining Oy, has signed a fixed price sales agreement with China’s Jinchuan Group Ltd for the sale of the nickel, copper and cobalt concentrate from the Hitura mine in Finland. The sales agreement is denominated in Euros and has a duration of 18 months from the commencement of deliveries. Deliveries are expected to start in August of this year.
"The completion of a sales agreement with Jinchuan is one of the major milestones on the road back to production. Belvedere has taken advantage of the recent upswing in Nickel prices to lock in a price which will allow the mine to safely return to production with no pricing downside risks....," said Belvedere CEO David Pym.
