Canadian miner Royal Nickel Corp. is teaming up with private equity firm Waterton Global Resource Management to buy, develop and operate undervalued nickel assets, the companies recently announced. The venture will have CAD $35 million to acquire nickel mines and projects, said the companies, and Waterton will pay CAD $22.5 million for a 50 percent stake in Royal Nickels Dumont nickel project in Quebec, which the partnership will own.
Where you have long-term, patient capital, thats willing to unlock value, I think theres lots of opportunities, said Royal Nickel Chief Executive Mark Selby in an interview. The venture, which has earmarked CAD $5 million to advance development at Dumont, is currently eyeing four to 11 targets that are relatively low cost and do not need major capital to develop, Selby said.