Nornickel weighs projects in new top market China
Nornickel executives held talks with potential Chinese partners this month and signed about 10 memorandums of understanding, Bloomberg sources say.
Palladium One Mining (TSXV: PDM) announced Wednesday that it plans to increase the size of its previously arranged private placement from C$3.2 million plus up to a 15% over-allotment to C$3.78 million.
The company will now issue up to approximately 63 million units at a price of C$0.06 per unit. Each unit will comprise one common share and one-half of one common share purchase warrant.
As before, Canadian mining investor Eric Sprott is expected to purchase 20 million units, representing 31.7% of the total offering amount. Assuming the offering is fully subscribed, Sprott’s ownership interest in the issued and outstanding common shares of Palladium One, on a non-diluted basis, would be approximately 19.3%.
Net proceeds from the financing are intended to be used by the company primarily for exploration activities on its palladium-dominant LK project in central Finland and Tyco sulphide nickel project in Ontario, Canada.
Shares of Palladium One jumped as much as 6.3% during Wednesday’s trading hours. The Vancouver-based PGE and nickel-copper miner has a market capitalization of C$3.3 million.
