Sunday, June 16, 2024

PNR applies for temporary reprieve on expiration of shares warrants with TSX

Premium Nickel Resources (PNR) said on Thursday that it has applied to the Toronto Stock Exchange (TSX) Venture Exchange for the extension of the expiry of common shares warrants which were expected to expire by early next week.

The company wants the expiry date for the warrants to be moved to October 16, 2023 for the 643,299 common shares which were to expire on October 16, 2023.

Each of the warrants entitles the holder to purchase one common share of the PNR at a price 1.75 Canadian cents per share.

Meanwhile, on Wednesday, it said it has filed a technical report with the Northeast District in Botswana   in accordance with the Canadian National Instrument 43-101- Standard of Disclosure for Mineral Projects for its 100 percent Selkirk Mine- near Francistown.

That gives an indication that the company is about to knuckle- down to work as it start to put together the historical and the current data to determine the viability of the project.

“The technical report, entitled “NI 43-101 Technical Report, Selkirk Nickle Project, Northeast District, Republic of Botswana”, dated April 12, 2023 (with effective date of March 31, 2023).. was prepared by G Mining Service Inc in accordance with NI 43-101,” the co0mpany said.

Selkirk Mine was a subject of economic studies between 1970 and 2016 and the last was done by Worley Parson on behalf of the defunct BCL Limited between 2015-2016. 

Chief executive officer at PNR, Keith Morrison said: “Selkirk surface deposits is located 75 kilometers north of our flagship Selebi Mine in Botswana.

“The Selkirk deposit is a separate asset from our primary underground Selebi and Selebi North deposits, providing the company with an additional permitted Nickel, Copper, Cobalt and platinum- group elements.”

He added: “Our objective is to generate a NI 43-101 compliant resource estimate in Q1, 2024, and pending positive outcome of the 2023 work program, complete an economic valuation of a potential open pit mine.”

Selebi Mine is said to be more promising and has passed the NI 43-101 stage. While underground work is still being done at Selebi North to clear for exploration.

According to a report prepared by North American Nickel titled “ An Investigation into The Recovery of Copper and Nickel from composite Samples from Phikwe-Selebi Deposit “ there is a like for an upside in the lives of Selebi Phikwe township.

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