Kootenay Silver, Pure Nickel on Eric Sprott investment blitz list
Mining News Pro - Canadian explorers Kootenay Silver (TSXV: KTN) and Pure Nickel (TSXV: NIC) have received fresh injections of cash from Eric Sprott.
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The Canadian billionaire investor – also a pioneer in the gold-backed ETF industry – has splashed over C$145 million on gold, silver, and nickel explorers since May, mostly on Canada-domiciled companies.

Pure Nickel’s shares jumped 20% Thursday on the news that Sprott invested a further C$3 million for an up to 19.9% stake in the company.  He had previously invested over C$200,000.

The financing is structured as a convertible debenture and is subject to the approval of the TSXV. Also on Thursday, Pure Nickel announced a merger with Explor Resources (CVE: EXS ).  

If Sprott converts the entire debenture, he will have a 30% interest in the new company and Pure Nickel shareholders and Explor shareholders will have a 30% and a 40% interest respectively.  

The new company will use proceeds for the advancement of the Timmins Porcupine West Gold property in Ontario.  

In the west, British Columbia’s Kootenay Silver (TSXV: KTN) closed on a C$5 million  private placement from Sprott.

Kootenay said Sprott has a long-term view of the investment and may acquire additional securities of the company in the future.  

At market close on Thursday, Kootenay Silver’s shares were up over 4%. The company has a C$56 million market capitalization.


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