Nickel 28 Capital Corp Stock Price, News & Analysis

Nickel 28 Capital Corp. (TSXV: NKL) has reported strong Q2 2025 operational results from its 8.56% joint-venture interest in the Ramu Nickel-Cobalt operation in Papua New Guinea. The facility achieved significant production increases, with 8,564 tonnes of contained nickel and 787 tonnes of contained cobalt in MHP, representing year-over-year increases of 13.4% and 16.6% respectively.

Production costs improved to US$2.68/lb of nickel (net of by-product credits), down from US$3.37/lb in Q2 2024. The company completed annual maintenance on two HPAL autoclaves during June, setting up expectations for an interruption-free second half of 2025. With 2,843 tonnes of nickel inventory in MHP at quarter-end, management anticipates stronger sales volumes in H2 2025.

Nickel 28 Capital Corp. (TSXV: NKL) held its annual general meeting of shareholders on June 24, 2025, where shareholders voted on key corporate matters. All nominated directors - Edward Collery, Craig Lennon, Brett Richards, Clark Wang, and David Whittle - were successfully elected to the board. Craig Lennon received the highest approval with 99.93% of votes in favor.

Shareholders also approved the reappointment of Baker Tilly WM LLP as the company's auditor, with 74.69% of votes supporting the decision. The Board has been authorized to determine the auditor's remuneration.

Nickel 28 Capital Corp. reported Q1 2025 financial results for the quarter ended April 30, 2025, highlighting its 8.56% joint-venture interest in the Ramu Nickel-Cobalt operation in Papua New Guinea. The company produced 6,970 tonnes of nickel and 648 tonnes of cobalt in MHP, with sales of 6,133 tonnes of nickel and 569 tonnes of cobalt. Production costs averaged US$3.61/lb of nickel. The quarter saw a net loss of US$0.9 million and ended with a cash balance of US$8.6 million. Production was impacted by an offline acid plant, reducing output by 20% and increasing unit costs. Despite challenges, the company received a US$1.2 million distribution from Ramu and maintains its annual production target of 32,000 tonnes of nickel in MHP. The company aims to keep corporate costs under US$2.5 million for the fiscal year 2026.

Nickel 28 Capital Corp. (TSXV: NKL) announces significant increases in mineral resources and reserves at its Ramu Nickel-Cobalt operation, where it holds an 8.56% joint-venture interest. The operation, managed by China Metallurgical Group Corporation (MCC), reported a 10% year-over-year increase in total reserves and an 18% increase in Measured & Indicated resources, along with a 146% increase in Inferred resources. These improvements result from successful 2024 exploration activities, including 1,370 boreholes totaling 17,687 metres. The updated estimates show total reserves of 76 Mt with 0.81% Ni and 0.09% Co, while total Measured & Indicated resources reached 177 Mt with 0.88% Ni and 0.09% Co. Upon repaying construction debt to MCC, Nickel 28's ownership will automatically increase to 11.3%, with an option to purchase an additional 9.25% stake.

Nickel 28 Capital Corp. (TSXV: NKL) has released its annual audited financial statements for FY2024 ended January 31, 2025. The company's 8.56% joint-venture in the Ramu Nickel-Cobalt operation produced 28,669 tonnes of nickel and 2,625 tonnes of cobalt in MHP. Key financial highlights include: total project revenue of US$471M (down from US$644M in FY2023), net loss of US$1.9M (US$0.02/share), and production costs of US$3.21/lb of nickel. The company maintained strong cash position of US$8.1M, repaid US$9.6M in debt (remaining balance US$36.5M), and received US$5.2M in cash distributions. Under its NCIB program, Nickel 28 repurchased 3,122,500 shares for C$2.34M through April 2025. Despite lower commodity prices, Ramu remains one of the sector's lowest-cost producers.

Nickel 28 Capital Corp has released Q1 2025 operational results for its Ramu Nickel-Cobalt operation in Papua New Guinea, where it holds an 8.56% joint-venture interest. The facility experienced significant production challenges due to an acid plant blower fan failure in early 2025.

Key Q1 2025 metrics include:

• Nickel production: 6,970 tonnes (down from 8,282 tonnes in Q1 2024)
• Cobalt production: 648 tonnes (down from 767 tonnes)
• Nickel sales: 6,133 tonnes (down from 8,864 tonnes)
• Production costs: US$3.61/lb (up 20% from US$3.00/lb)
• Average prices: Nickel US$7.06/lb (down 6%), Cobalt US$11.09/lb (down 18%)

Despite early challenges, the operation achieved record performance levels after repairs were completed. Management plans to conduct HPAL autoclave maintenance in Q2 2025, aiming for uninterrupted production in H2 2025.

Nickel 28 Capital Corp (TSXV: NKL) announced its eighth cash distribution from the Ramu Nickel-Cobalt project in Papua New Guinea. The company will receive approximately US$1.2 million for H2 2024 operations from its 8.56% joint-venture interest. Additionally, US$2.1 million of construction debt was repaid, reducing Nickel 28's balance to US$36.5 million.

Production in H2 2024 was affected by two events: a planned 30-day plant-wide shutdown for capital improvements and a mechanical failure in the acid plant's blower that impacted operations from mid-November 2024 to mid-February 2025. Despite these challenges, Ramu maintains its position as one of the world's lowest-cost nickel laterite operations. The company expects improved production in 2025 and aims to keep corporate costs under US$2.5 million for FY2026.

Nickel 28 Capital Corp (TSXV: NKL) announced that its Ramu Nickel-Cobalt Mine has successfully resumed full production capacity following the repair of a mechanical failure. The issue, which involved one of two blowers in the acid plant at Ramu's HPAL plant, had caused a temporary reduction in production since December 18, 2024.

With the mechanical repair and replacement of the fan blower now completed, the company maintains its production guidance for calendar 2025 at approximately 32,000 Mt of contained nickel and 2,900 Mt of contained cobalt.

Nickel 28 Capital Corp has released its Q4 and full-year 2024 operational results for the Ramu Nickel-Cobalt operation in Papua New Guinea, where it holds an 8.56% joint-venture interest. The facility experienced decreased production due to a planned shutdown in September/October 2024:

Full-year 2024 production reached 28,669 tonnes of contained nickel and 2,625 tonnes of cobalt in MHP. Q4 2024 production was 5,952 tonnes of nickel and 549 tonnes of cobalt. Sales for 2024 totaled 30,523 tonnes of nickel and 2,793 tonnes of cobalt.

Average prices declined significantly: nickel dropped 22% to US$7.63/lb and cobalt fell 29% to US$11.26/lb compared to 2023. Production costs were US$3.33/lb for the full year. For 2025, Ramu targets production of 32,000 tonnes of nickel and 2,900 tonnes of cobalt, though this is impacted by a non-operational acid plant expected to resume by late February 2025.