Royal Nickel Reports 'Transformative' Acquisitions

Royal Nickel Corp. (TSX:RNX) announced plans to acquire a 67-percent stake in Salt Lake Mining Pty Ltd. and a 100-percent interest in VMS Ventures Inc. (TSXV:VMS). According to the company, the two acquisitions will transform it into “a cash generating low-cost nickel, copper and gold producer.”
Transaction highlights are as follows:

• Transformational: Immediately transforms RNC into a nickel, copper and gold producer, consistent with strategy to become multi-asset mining company
• Quality Producing Assets: Beta Hunt and Reed mines are cash generating mines in excellent mining jurisdictions and are among the highest grade nickel and copper mines the world
• Strong Operating Teams: Both Beta Hunt and Reed mines have existing strong operating teams that will remain intact following the transactions
• Diversification: The combined assets of SLM and VMS with RNC’s existing assets will create a diversified, multi-asset mining company with a strong footprint in key established mining camps in Canada and Australia
• Platform for Growth: The combined assets will provide a platform for further growth either organically or by opportunistic acquisitions

Mark Selby, president and CEO of Royal Nickel, commented:

The acquisition of SLM and VMS will provide RNC with cash generating operations, leveraged exposure to nickel, gold and copper production, and serves as a platform for potential growth in two promising and prolific metals producing regions in excellent mining jurisdictions. With the addition of the SLM and VMS assets, RNC will benefit from exposure to current nickel, gold and copper production, RNC’s large scale, shovel ready, Dumont Nickel Project, management synergies, and a pipeline of compelling nickel, copper and gold exploration projects.

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