Jan 12, 2022
Northeastern Ontario rare minerals explorer secures Chinese financing
< 1 MIN READ
Power Metals inks $3M equity financing agreement with Sinomine Rare Metals Resources
A Chinese mining financier has taken an equity stake in a junior mining company exploring for cesium and lithium in northeastern Ontario.
Sinomine Rare Metals Resources is providing $3 million to Power Metals Corp. through a financing agreement that will see the Beijing-headquartered company hold a 5.7 per cent interest of the Vancouver and Arizona-based junior miner.
In a Dec. 21 news release from Power Metals, Sinomine is being hailed as their partner to develop the Case Lake Project, 80 kilometres east of Cochrane, close to the Ontario-Quebec border.
Read the full story from Northern Ontario Business HERE