Canada Nickel Receives $500M Loan Interest From Government Agency For Ontario Project
Portfolio Pulse from Stjepan Kalinic
Canada Nickel Company (OTC:CNIKF) has received a Letter of Interest from Export Development Canada for a potential $500 million loan to support its Crawford nickel project in Ontario. This project is crucial for Canada's role in the global EV supply chain, with potential to produce 48,000 tons of nickel annually.
September 09, 2024 | 2:32 pm
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Canada Nickel Company has received a Letter of Interest from Export Development Canada for a $500 million loan to develop its Crawford nickel project. This marks a significant step towards securing full financing and highlights the project's importance in the EV supply chain.
The LOI from EDC is a major milestone for Canada Nickel, indicating strong governmental support and potential financial backing. This is crucial for the development of the Crawford project, which is expected to significantly contribute to the nickel supply for EV batteries. The news is likely to positively impact CNIKF's stock price in the short term as it progresses towards securing full financing.
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