RNC Minerals Could Move Off Yr Lows as Restructures Senior Secured Gold Loan with Auramet International LLC; Completes $8 Mln Financing,

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Dumont Nickel Project - 8.4 billion pounds of nickel resources - Abitibi

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RNC Minerals Could Move Off Yr Lows as Restructures Senior Secured Gold Loan with Auramet International LLC; Completes $8 Mln Financing,

posted on Dec 15, 2017 11:49AM

Funds to Support Nickel Ramp-up at Beta Hunt

2017-12-15 09:22:39 AM ET (MT Newswires)

09:22 AM EST, 12/15/2017 (MT Newswires) -- RNC Minerals (RNX.TO) will be looking to move off year lows on news that it has restructured its financing package with Auramet International LLC to fund the repayment of all obligations under the Senior Secured Gold Loan entered into in October 2016 and "provide financial flexibility to support completion of the ramp-up and development of the Beta Hunt Mine, including the planned doubling of nickel production in 2018." RNC said it has also raised an additional $4.5 million in capital from Pala Investments Limited and other key stakeholders, "further strengthening its balance sheet."