On January 22nd 2019, BatteryOne Royalty Corp., a private royalty company focused on nickel sulfide and copper deposits, announced their acquisition of a 2.0% net smelter return loyalty on future metal production from the Dumont Nickel-Cobalt project, a construction-ready mine, fully permitted, containing one of the world’s largest undeveloped reserves of nickel and cobalt, located in a mining camp in Abitibi, Quebec, Canada.
The area under the royalty covers approximately 21% of the Dumont deposit. The acquisition price is C$2 million in cash and 3,669,018 shares of BatteryOne representing a 19% interest. 1% of the NSR can be bought back by Dumont for C$1 million. The NSR was acquired from the original owners of Dumont Deposit pursuant to a royalty purchase and sale agreement.
A Fasken team represented the royalty holders in connection with this sale. The team led by Frank Mariage included Youssef Fichtali and Ryan Rabinovitch.
