Jien International Investment Inc., Northern Sun’s largest shareholder, has agreed to consolidate Northern’s debt and will continue to support the company through 2014.
On Jan. 20, it was announced Northern Sun, formerly Liberty Mines, would be delisted from the TSX on Feb. 19 after failing to meet the listing requirements. The company has said it’s considering filing an appeal of the decision.
Northern Sun owns two former producing nickel mines and a large prospective land package in the Shaw Dome area near Timmins. The company also owns the Redstone Mill, which has operated as the only nickel concentrator in the region.
Designed with two processing circuits, which are permitted to operate in tandem at 1,500 tonnes per day, the mill is being positioned by Northern Sun to offer toll milling services to a variety of deposits in the Timmins camp and general area.