Business
PMET Resources Receives Letter of Interest from Société Générale for Shaakichiuwaanaan Project Financing
June 03, 2026 – Sydney, Australia - PMET RESOURCES INC. (THE "COMPANY" OR "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce that it has received a non-binding Letter of Interest ("LOI") from Société Générale ("SG"), a leading international corporate and investment bank, in relation to potential project financing for the Phase 1 development of the Company's 100%-owned Shaakichiuwaanaan Project, located in the Eeyou Istchee James Bay region of Quebec, Canada.
About this update from Pmet Resources Inc.
MONTREAL, June 3, 2026 /CNW/ - June 03, 2026 – Sydney, Australia - PMET RESOURCES INC. (THE "COMPANY" OR "PMET") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce that it has received a non-binding Letter of Interest ("LOI") from Société Générale ("SG"), a leading international corporate and investment bank, in relation to potential project financing for the Phase 1 development of the Company's 100%-owned Shaakichiuwaanaan Project, located in the Eeyou Istchee James Bay region of Quebec, Canada. Under the LOI, SG has expressed interest in participating as a Mandated Lead Arranger for potential debt financing package. The LOI represents another important step in advancing PMET's long-term financing strategy and aligns with PMET's objective to assemble a high-quality syndicate of internationally recognized mining project finance lenders and Export Credit Agencies. This builds on the recently announced support and engagement from EDC, KfW IPEX-Bank and an additional major Canadian financial institution. The LOI is intended to facilitate lender due diligence, including technical, environmental and commercial reviews, as PMET advances toward completion of its updated Feasibility Study targeted for calendar Q4 2026. Natacha Garoute, CFO, comments: "Société Générale brings extensive global mining project finance expertise, including meaningful experience financing Québec-based mining assets. Their interest further reinforces the quality, scale and strategic importance of the Shaakichiuwaanaan Project. We look forward to working closely with the SG team as we progress lender due diligence and continue building a robust financing syndicate to support the development of Phase 1." The Company cautions that this letter is preliminary, non-binding, and conditional in nature. It does not constitute a credit approval, financing commitment, or definitive financing arrangement. Any future financing remains subject to satisfactory completion of comprehensive due diligence (including a site visit by SG), internal management and credit approvals, agreement on commercial terms, and final documentation. Financing discussions continue to progress in parallel with permitting, engineering optimization, product marketing and ongoing strategic commercial engagement. About PMET Resources Inc. P...
View stock analysis, news, and events for Pmet Resources Inc.