TORONTO, May 29, 2014 /CNW/ - Royal Nickel Corporation ("RNC") (TSX: RNX) today announced it has awarded a contract to Ausenco Limited ("Ausenco") (ASX: AAX) to begin detailed engineering on long lead equipment for the Dumont Nickel Project ("Dumont").
Ausenco's work leading the pre-feasibility and feasibility studies for Dumont and its experience working on Dumont and other large scale projects, ideally positions Ausenco to immediately begin detailed engineering work on the project.
"With a rapidly improving nickel market and constructive discussions with potential partners, we are moving forward with confidence to this next phase of project development," said Mark Selby, President and CEO of RNC. "We are very happy to continue working with the Ausenco team, who in our view is one of the top project teams globally for large scale open pit mine and mill projects. By beginning detailed engineering work now, it will allow construction to start in early 2015 assuming permits and financing are in place."
Ausenco Limited is a global, diversified engineering and project management company providing services in Minerals and Metals, Process Infrastructure, Program Management, Environment and Sustainability and Oil & Gas, Power sectors.
About Royal Nickel Corporation
Royal Nickel Corporation is a mineral resource company focused primarily on the acquisition, exploration, evaluation and development of base metal and platinum group metal properties. RNC's principal asset is the Dumont Nickel Project strategically located in the established Abitibi mining camp, in the municipalities of Launay and Trécesson, 25 kilometres northwest of Amos, Quebec. RNC has a strong management team and Board with over 100 years of mining experience in the nickel business at Inco and Falconbridge. RNC's common shares trade on the TSX under the symbol RNX.
Cautionary Statement Concerning Forward-Looking Statements
This news release contains "forward-looking information" including without limitation statements relating to a rapidly improving nickel market and starting construction in early 2015 at the Dumont project.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There are no assurances that Dumont will be placed into production. Factors that could affect the outcome include, among others: the actual results of development activities; project delays; inability to raise the funds necessary to achieve the milestones or complete development; general business, economic, competitive, political and social uncertainties; future prices of metals; availability of alternative nickel sources or substitutes; actual nickel recovery; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; delays in obtaining governmental approvals, necessary permitting or in the completion of development or construction activities. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to RNC's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and RNC disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
SOURCE: Royal Nickel Corporation
For further information: Rob Buchanan, Director, Investor Relations, T: (416) 363-0649, www.royalnickel.com; Mélanie Corriveau (French contact), Community Relations Coordinator, T: (819) 727-3777