Royal Nickel Corporation fka RNX

[SPARK]

Under an agreement, Resources Quebec is spending $12 million to acquire an interest in Royal’s Dumont Nickel Project, and will have the right to receive 0.8% of the net smelter return from the sale of minerals produced at the site. Dumont is located near Amos in Quebec's Abitibi mining region.

It also gets a 2% undivided co-ownership interest in the property, Royal Nickel said in a press release.

Trading at 41 cents on Thursday, Royal Nickel has a market cap of $36.8 million, based on 89.8 million shares outstanding. The 52-week range is $1.20 and 33.5 cents.