The upsized financing represents nearly double the initial offering amount.

The company is accelerating the next phase of its recycling project to demonstrate that its hydrometallurgical black mass process is scalable, profitable, and can be implemented at other locations.

Treaty Creek, in the Golden Triangle region of northwest British Columbia, is a joint venture project with Tudor Gold and Teuton Resources.

The quota issued should be enough, as nickel ore consumption last year was below this, its energy and mineral resources minister said.