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BRIEF-RNC Minerals announces purchase option with Westgold for Sko mine and mill
February 13, 2017 / 12:30 PM / in 8 months

BRIEF-RNC Minerals announces purchase option with Westgold for Sko mine and mill

Feb 13 (Reuters) - Royal Nickel Corp

* RNC Minerals announces purchase option with Westgold for Sko mine and mill - expanding its western Australian gold footprint - and enters toll processing agreement

* Secure the tolling rights, option to acquire Sko business, rnc will issue a total of 23.4 million shares worth approximately $8 million

* Under toll agreement, Westgold has granted RNC access to 50% of its plant capacity at Sko

* Westgold granted RNC 6-month option to buy Sko operations, including all existing mining, milling and infrastructure, for $80 million

* RNC will pay Westgold toll processing fees on a fixed plus variable arrangement on commercial terms.

* We expect to realize over $7 million in cost savings during processing arrangement with Westgold Source text for Eikon: Further company coverage:

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