A top mining investment firm is backstopping an emerging nickel player in the Sudbury Basin.
Toronto’s Dundee Goodman Merchant Partners (DGMP) has formed a “strategic relationship” with Sudbury Platinum Corporation to grow the exploration company and get it publicly listed by year’s end.
Sudbury Platinum (also known as SPC Metals) is a spinoff company of Transition Metals, a Sudbury-based exploration company overseeing more than 25 base and precious metals projects in Northern Ontario, the Maritimes and Western Canada.
The focus with Sudbury Platinum is exploration within the Sudbury Basin, the world’s second largest nickel mining camp dominated by mining giants Vale, Glencore and KGHM.
SPC is led by Scott McLean, the president-CEO of Transition Metals. Dundee Goodman provided $1 million to help move the yardsticks on Sudbury Platinum’s three area projects on top of the more than $2.1 million the Sudbury explorer recently raised through a private placement and a flow-through share offering.