Nickel 28 Releases Ramu 2023 Production and Provides 2024 Production Guidance
08 Enero 2024 - 6:00AM
Business Wire
Nickel 28 Capital Corp. (“Nickel 28” or the
“Company”) (TSXV: NKL) (FSE: 3JC0) is pleased
to provide nickel and cobalt production levels for the Company’s
largest asset, being the Ramu Nickel-Cobalt (“Ramu”)
integrated operation in Papua New Guinea. Nickel 28 currently holds
an 8.56% joint-venture interest in Ramu which is operated by
Metallurgical Corporation of China (“MCC”).
Announcement Highlights:
- For the calendar year ending December 31, 2023 Ramu produced
33,604 tonnes of nickel and 3,072 tonnes of cobalt contained in
mixed hydroxide precipitate (“MHP”), exceeding Ramu’s design
capacity for a 7th consecutive year.
- For the 2024 calendar year, MCC will undertake a US$33 million
capital upgrade plan at Ramu, requiring a 30-day plant shutdown
throughout September. As a result, we are expecting to produce
approximately 30,000 tonnes of contained nickel and 2,700 tonnes of
contained cobalt in MHP in 2024.
- The capital upgrades will primarily focus on enhancing
equipment performance and stability, as well as phasing out
outdated equipment. It is expected that these upgrades will have a
positive impact on production levels.
The 2023 production figures are subject to final year end
adjustment, which is expected to be negligible, and are consistent
with previously reported guidance of 33,000 tonnes of Ni.
“Given that Ramu experienced multiple earthquake events in the
later half of 2023 and lost over 7 production days to ascertain
potential damage from these earthquakes, this is a remarkable
achievement,” commented Anthony Milewski, Nickel 28’s CEO. “In
2024, Ramu will undertake significant capital upgrades to improve
longer-term production and reliability levels after 11 years of
production,” continued Mr. Milewski.
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 and exploration projects
in Canada, Australia and Papua New Guinea.
Cautionary Statements 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 operational and financial results of the Ramu
project (including historical and future production levels and
capital spending plans); statements with respect to the anticipated
levels of production from the Ramu project in 2024 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240108902589/en/
Investor: Justin Cochrane, President Tel:
289.314.4766 Email: info@nickel28.com
Nickel 28 Capital (TSXV:NKL)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Nickel 28 Capital (TSXV:NKL)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024