Ni-Cu-Co-PGM mine in Botswana set for acquisition

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Acquisition process completed for Ni-Cu-Co-PGM mine in Botswana

The Selkirk nickel-copper-cobalt-platinum-group metals (Ni-Cu-Co-PGM) Mine in Botswana is set to be purchased by Premium Nickel Resources.

The definitive asset purchase agreement (Selkirk APA) was signed with the liquidator of Tati Nickel Mining Company (TNMC). PNR will purchase the mine and surrounding prospecting licences, as well as infrastructure that was formerly operated by TNMC.

Since the selection as preferred bidder in the TNMC liquidation process and signing of a memorandum of understanding provided for a six-month exclusivity period, PNR has been carrying out due diligence work programmes on the Selkirk project.

Drill programme

During the 120-day closing period, PNR plans to execute a drill programme to bring the project’s 2016 bankable feasibility study to NI 43-101 compliance. Recently, PNR acquired the Selebi and Selebi North nickel-copper-cobalt mines and related infrastructure in Botswana from the liquidator of BCL Limited (BCL).

“The executed Selkirk APA together with the recent completion of the transfer of ownership of the Selebi and Selebi North Mines, completes the assets that PNR is purchasing from the BCL and TNMC liquidations in Botswana. PNR will move forward with the closing of the transaction and assuming the ownership of the Selkirk Mine. The Selkirk redevelopment will be based on modern best practices and assuming conservative commodity prices,” said PNR CEO Keith Morrison.

The firm also plans to update the environmental baseline to include a tailings management facility and a processing plant. The Selkirk underground mine is located 28km south-east of Francistown, and 75km north of the Selebi Mines.

 

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