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In its press-release, the company said that the Crean Hill mine operated during three separate periods, from 1906 to 2002, with past production totaling 20.3 Mt grading 1.3% Ni, 1.1% Cu, 1.6 g/t Pt+Pd+Au. The Crean Hill mine is located 37km east of the company’s Shakespeare project in the Sudbury mining region.
The company added that the acquisition will be completed pursuant to the terms of the purchase agreement entered into between the company, Loncan and the current shareholders of Loncan, being Sibanye UK Limited, Wallbridge Mining Company Limited and certain other minority shareholders of Loncan.