Royal Nickel Provides Project Development Updates and Year End 2012 Report

Royal Nickel Corporation (TSX:RNX) has released its activities and financial reports for year ended December 31, 2012.

As quoted in the press release:

·  On March 12, 2013, RNC signed a memorandum of understanding (“MOU”) with Tsingshan Holding Group Co., Ltd. The MOU sets out the objectives of the parties to work together in relation to downstream concentrate processing and the potential to enter into an offtake and/or partnership arrangement. Tsingshan is the second largest Chinese stainless steel company and one of the leading innovators in the development of vertically integrated nickel pig iron (“NPI”) and stainless steel production operations.

·  On March 7, 2013, RNC closed a private placement of 4 million flow-through shares at a price of $0.50 per share for gross proceeds of $2 million and provided a partner process update. The proceeds of the private placement are primarily being used to investigate the regional potential near Dumont but outside the known Dumont orebody. RNC also reported that the formal partnership process is ongoing and that discussions with interested parties to invest in the Dumont project are ongoing. RNC remains optimistic that partnership and financing arrangements will be completed in advance of the receipt of permits, expected in the second quarter of 2014.

·  On November 28, 2012, RNC announced that the ESIA for the Dumont Nickel Project had been filed with the relevant provincial and federal authorities for review.

Click here to read the full Royal Nickel Corporation (TSX:RNX) press release.