Jaguar Nickel raises US$19mn for Sechol

Toronto-based Jaguar Nickel (TSX: JNI) reported Wednesday the offering of 20 million special warrants at Cdn$1.25 a piece to realize gross proceeds of Cdn$25mn (US$18.9mn), after the previously announced offering to raise Cdn$18mn was oversubscribed. The marketed private placement, by a syndicate of underwriters led by Scotia Capital, is due to close on November 13, subject to certain conditions, Jaguar said in a statement. Proceeds will be used to explore, including drilling, Jaguar Nickel's Sechol nickel laterite deposit in Guatemala and to fund continued development of the company's proprietary metallurgical process, it said. The company has "third generation" nickel leaching technology, called the Atmospheric Chloride Leach Process, developed in conjunction with Hatch Engineering and Process Research ORETECH.