Pacific Nickel raises cash for Kolosori
PERTH (miningweekly.com) – Junior Pacific Nickel will raise A$5.2-million in a share placement to advance the development of its Kolosori nickel project, in the Solomon Islands.
The ASX-listed company on Monday announced that it had successfully arranged for the placement of more than 75.3-million shares, at a price of 7c each. The issue price represents a 21.3% discount to the company’s last traded price on the ASX.
The shares will be placed in two tranches, with the first consisting of more than 71.4-million shares to be placed under the company’s existing placement capacity, while the second tranche of 3.9-million shares will be placed to company directors, subject to shareholder approval.
“The company is delighted with the outstanding response from investors to the capital raising and in particular the participation from existing shareholders and new institutional shareholders. These funds enable the company to complete the final feasibility study work and commence mine development at the company’s Kolosori project in the Solomon Islands in anticipation of production next year. Achieving production from the Kolosori project at the earliest opportunity is the company’s highest priority,” said CEO Geoff Hiller on Monday.
The company holds an 80% interest in Kolosori, where a mining lease was granted in September. Pacific Nickel is targeting the production of 1.3-million tonnes a year of high-grade saprolite and transition ore from the mine by the third quarter of next year. The project is expected to require a capital investment of $20-million.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...
VISIT SHOWROOM
AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
