WEST LAFAYETTE, Ind. (AP) — A retired investment adviser has donated a stake in a Canadian nickel mining operation to Purdue University that could eventually produce a big windfall for the school.
Allyn Knoche, a 1956 Purdue graduate, donated a 1 percent stake in the mine owned by FPX Nickel, a Vancouver-based company.
Revenue from that share will be divided equally between Knoche’s son, his stepson and Purdue's Krannert School of Management.
Knoche tells the Journal & Courier that based on current numbers, and the assumption the mine begins operation within several years, Purdue’s stake could eventually top $100 million over the next three decades.