NICKEL EXPLORATION: Ressources Quebec invests $12M in Dumont project

QUEBEC – Ressources Quebec, a new Investissement Quebec subsidiary that focuses on mining and hydrocarbon industries, has agreed to invest $12 million in the Dumont advanced exploration nickel project. The investment will earn Ressources Quebec an 0.8% net smelter return and 2% co-ownership interest in the property in the Abitibi mining camp.

Royal Nickel Corp. of Toronto owns 100% of the Dumont nickel project. The company says the recent investment will allow it to complete the feasibility study by mid-2013. The project could create 1,400 construction jobs and 500 full time jobs when it goes into production in late 2015.

Royal Nickel intends to use the funds raised to move forward with activities related to the development of Dumont, including a 43-101-compliant feasibility study and permitting. A partner is being sought to take a 30 % to 45% interest in Dumont. 

Details about the Dumont project are available at RoyalNickel.com.