{"id":29533,"date":"2023-06-27T10:40:49","date_gmt":"2023-06-27T10:40:49","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines"},"modified":"2023-06-27T11:09:22","modified_gmt":"2023-06-27T11:09:22","slug":"pnr-secures-financing-for-selebi-and-selkirk-mines","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines","title":{"rendered":"PNR Secures Financing for Selebi and Selkirk Mines"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Premium Nickel Resources (PNR) is pleased to announce a financing with Cymbria Corporation (TSX: CYB) (Cymbria or CYB), EdgePoint Investment Group Inc. and certain entities managed by it (EdgePoint) for aggregate gross proceeds to PNRL of CAD$33,999,200 (about P340 million).<\/b><\/p>\n

According to a statement released by the company recently, approximately CAD$7,360,000 (P74.1 million) of the proceeds from the Financing Transactions to prepay all principal and interest owing by the company under its currently outstanding promissory note in favour of Pinnacle Island LP.<\/p>\n

Adjacent mineral and property rights <\/b><\/p>\n

PNR says the balance (CAD$26,6 million or P268 million) of the net proceeds of the Financing Transactions will be used to advance exploration and resource development at PNRL\u2019s Selebi and Selkirk nickel, copper, cobalt, platinum-group elements (Ni-Cu-Co-PGE) sulphide mines in Botswana, including the acquisition of adjacent mineral and property rights as appropriate, and for general corporate purposes.<\/p>\n

Through a combination of resource drilling and continued exploration drilling at both the Selebi and Selkirk mines, PNRL is working to establish a maiden mineral resource estimate prepared in accordance with NI 43-101.<\/p>\n

According to the statement, PRN is committed to redeveloping the mines through modernisation and implementation of mining best practices to improve mine safety and efficiency, reduce power consumption, adopt alternative energy sources and minimise water usage.<\/p>\n

Environmental objectives <\/b><\/p>\n

PNRL expects that the rehabilitation of the mines on this basis will actively contribute to Botswana\u2019s economic, social, climate and environmental objectives.<\/p>\n

These mines, once they are brought back into production, are expected to be a significant source of critical minerals for aerospace, decarbonisation technologies and general industrial uses, in particular, during what is forecast to be a period of significant supply shortage at a critical time in the global renewable electrification transition.<\/p>\n

Additional drilling <\/b><\/p>\n

The CEO of PNRL, Keith Morrison, commented: \u201cI would like to welcome the EdgePoint team to PNRL and thank Pinnacle Island for their long-term support. This debt refinancing pursuant to the term loan will extend our current debt maturity for three years until June 2026.<\/p>\n

\u201cThe total funding resulting to PNRL pursuant to the financing transactions of approximately CAD$34 million will provide us with the resources to advance both the National Instrument 43-101 -Standards of Disclosure for Mineral Projects (NI 43-101) resource compliance and additional exploration drilling at the Selebi and Selkirk mine.\u201d<\/p>\n

About PNR<\/b><\/p>\n

Premium Nickel Resources is a leading mining company focused on nickel, copper, cobalt, and platinum-group elements (Ni-Cu-Co-PGE). contribute to the global transition towards renewable energy and decarbonisation technologies.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Premium Nickel Resources (PNR) is pleased to announce a financing with Cymbria Corporation (TSX: CYB) (Cymbria or CYB), EdgePoint Investment Group Inc. and certain entities managed by it (EdgePoint) for aggregate gross proceeds to PNRL of CAD$33,999,200 (about P340 million). According to a statement released by the company recently, approximately CAD$7,360,000 (P74.1 […]<\/p>\n","protected":false},"author":84,"featured_media":29532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-29533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nPNR Secures Financing for Selebi and Selkirk Mines - Botswana<\/title>\n<meta name=\"description\" content=\"Premium Nickel Resources (PNR) is pleased to announce a financing with Cymbria Corporation (TSX: CYB) (Cymbria or CYB ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PNR Secures Financing for Selebi and Selkirk Mines\" \/>\n<meta property=\"og:description\" content=\"Premium Nickel Resources (PNR) is pleased to announce a financing with Cymbria Corporation (TSX: CYB) (Cymbria or CYB ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-27T10:40:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-27T11:09:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/06\/sm_1687847472.019935.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"470\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"PNR Secures Financing for Selebi and Selkirk Mines\",\"datePublished\":\"2023-06-27T10:40:49+00:00\",\"dateModified\":\"2023-06-27T11:09:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines\"},\"wordCount\":434,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/06\/sm_1687847472.019935.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/pnr-secures-financing-for-selebi-and-selkirk-mines\",\"name\":\"PNR Secures Financing for Selebi and Selkirk Mines - 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