Nickel 28 Files Fiscal Q2 Financial Statements
26 Setembro 2023 - 8:37PM
Business Wire
Nickel 28 Capital Corp. (“Nickel 28” or the
“Company”) (TSXV: NKL) (FSE: 3JC0) has
released its results for the quarter ended July 31, 2023.
“In the second calendar quarter of 2023, Ramu continued its
strong performance of operations maintaining its industry leading
low costs and ability to operate at above nameplate capacity”
stated Anthony Milewski, the Company’s Chief Executive Officer.
“Ramu experienced reduced production during the quarter as it
pursued the opportunity to implement certain maintenance procedures
and upgrades. Nickel 28’s share of operating profit from Ramu
exceeded the previous quarter and exceeded the same quarter last
year, notwithstanding the maintenance work that was
undertaken.”
Quarterly Highlights
The Company’s principal asset, an 8.56% joint-venture interest
in the Ramu Nickel-Cobalt integrated operation in Papua New Guinea
(“Ramu”), had another outstanding quarter. Highlights from
Ramu and the Company during the quarter include:
- Production of 7,784 tonnes of contained nickel and 717 tonnes
of contained cobalt in MHP during the second calendar quarter,
placing Ramu as one of the top producers of mixed hydroxide
precipitate (“MHP”) globally
- Sales of 9,078 tonnes of contained nickel and 822 tonnes of
contained cobalt in MHP during the second calendar quarter
- Actual cash costs for the second calendar quarter, net of
by-product sales, of US$3.92/lb. of contained nickel, a 26%
increase compared to Q1
- Share of operating profit from Ramu Nickel Mine of $5.1 million
during the second calendar quarter
- Strong quarter end cash balance of US$6.5 million
- Total net and comprehensive income of US$0.6 million
(US$0.01/share) for the three months ended July 31, 2023, largely
as a result of the Company’s share of operating profit from Ramu
Nickel Mine and higher costs attributable to the Company’s
contested Annual General and Special Meeting
- Total non-recourse construction debt of US$57.2 million as at
July 31, 2023
About Nickel 28
Nickel 28 Capital Corp. is a nickel-cobalt producer through its
8.56% joint-venture interest in the producing, long-life and
world-class Ramu Nickel-Cobalt Operation located in Papua New
Guinea. Ramu provides Nickel 28 with significant attributable
nickel and cobalt production thereby offering our shareholders
direct exposure to two metals which are critical to the adoption of
electric vehicles. In addition, Nickel 28 manages a portfolio of 10
nickel and cobalt royalties on development, pre-feasibility and
exploration projects in Canada, Australia and Papua New Guinea.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes
“forward-looking statements” and “forward-looking information”
within the meaning of applicable Canadian securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as “may”, “should”, “anticipate”, “expect”, “potential”,
“believe”, “intend” or the negative of these terms and similar
expressions. Forward-looking statements in this news release
include, but are not limited to: statements and figures with
respect to the operating performance of Ramu; and statements with
respect to the business and assets of the Company and its strategy
going forward. Readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements involve
known and unknown risks and uncertainties, most of which are beyond
the Company’s control. Should one or more of the risks or
uncertainties underlying these forward-looking statements
materialize, or should assumptions underlying the forward-looking
statements prove incorrect, actual results, performance or
achievements could vary materially from those expressed or implied
by the forward-looking statements.
The forward-looking statements contained herein are made as of
the date of this release and, other than as required by applicable
securities laws, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. The
forward-looking statements contained in this release are expressly
qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No securities regulatory authority has
either approved or disapproved of the contents of this news
release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230926754424/en/
Investor Contact: Justin Cochrane, President Tel: + 1 289
314 4766 Email: info@nickel28.com
Nickel 28 Capital (TSXV:NKL)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Nickel 28 Capital (TSXV:NKL)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024