Northcliff Resources (NCF.TO) which aims to develop its Sisson tungsten project in New Brunswick, Canada, has announced it has appointed the French bank Société Générale (‘SocGen’) as its main financial advisor. The main task of the bank will be to explore the options and possibilities to secure financing for the Sisson project, which has the potential to be a significant tungsten producer in Canada. As the project’s average grade is quite low, the Sisson project could be seen as a call option on the tungsten price, as its leverage on the tungsten price will be much higher than for instance Wolf Minerals (ASX:WLF) which recently completed a private placement and is now fully funded to start producing at its Hemerdon tungsten project in the UK in H2 2015.
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Disclosure: The author currently holds no position in Northcliff Resources. Please see our disclaimer for current positions.
