Nordique Critical Metals Secures Final TSXV Approval for Kwyjibo Rare Earth Option
Nordique Critical Metals Inc. (NQC) has secured final approval from the TSX Venture Exchange for an option agreement allowing it to acquire up to an 80% interest in the Kwyjibo Rare Earth Project in Quebec. Following comments from exchange regulators, the company also submitted an amended 2026 preliminary economic assessment report for the project.
Under the terms of the agreement, Nordique can earn an initial 60% stake during Phase I by committing C$23.15 million in capital expenditures and share issuances. The company has the option to earn an additional 20% interest in Phase II for C$22.00 million. Nordique will serve as the operator for the property alongside partner SOQUEM, giving it direct operational control over development timelines.
Moving forward, investors will watch how Nordique secures financing for its earn-in obligations, which may require capital raises or share issuances. Future milestones for the property include establishing a binding joint venture structure and advancing exploration work toward a feasibility study. Shares of Nordique Critical Metals Inc were unchanged at 0.06 CAD following the announcement.
Key points
- Nordique Critical Metals Inc. received final approval from the TSX Venture Exchange to earn up to an 80% stake in the Kwyjibo Rare Earth Project.
- Phase I permits the company to earn a 60% interest by committing C$23.15 million in capital and shares.
- Phase II allows Nordique to acquire an additional 20% interest for C$22.00 million, bringing total potential ownership to 80%.
- Nordique will act as the project operator alongside partner SOQUEM.
- The company filed an amended 2026 preliminary economic assessment to address exchange disclosure comments.
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What approval did Nordique Critical Metals receive for Kwyjibo?
Nordique Critical Metals received final approval from the TSX Venture Exchange to earn up to an 80% interest in the Kwyjibo Rare Earth Project.
How much must Nordique Critical Metals spend to earn its stake?
Nordique can earn a 60% interest in Phase I for C$23.15 million in funding and shares, and an additional 20% in Phase II for C$22.00 million.
Who operates the Kwyjibo Rare Earth Project?
Nordique Critical Metals will act as the project operator alongside partner SOQUEM.