Nico announces A$7.3m raise
PERTH (miningweekly.com) – ASX-listed Nico Resources will raise A$7.3-million in a fully underwritten one-for-five pro rata non-renounceable entitlement offer.
The entitlement offer will be priced at 40c a share, representing a 13% discount to Nico’s last closing price, and a 17.3% discount to the company’s five-day volume weighted average share price.
The company said on Tuesday that the proceeds from the entitlement offer will be used to provide working capital to further advance the Central Musgrave project, following the prefeasibility study (PFS) completed last year. The company is working towards completing a definitive feasibility study on the project.
The PFS estimated that the flagship Wingellina nickel/cobalt project will produce 40 000 t/y of contained nickel and 3 000 t/y of contained cobalt over a minimum 42-year mine life. The project’s capital cost is estimated at A$2.9-billion, with revenues estimated at A$61.7-billion over the life of the mine, while the post-tax net present value is estimated at A$3.34-billion and the internal rate of return at 18.02%.
Comments
Press Office
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