Nickel 28 Capital Corp Stock Price, News & Analysis

Nickel 28 Capital (OTCQB:CONXF) provided a portfolio update on October 30, 2025 covering royalties across nickel, cobalt and scandium projects in Canada, Australia and Papua New Guinea. Key developments include a mining license grant for Nyngan, a Lockheed Martin option for up to 15 tonnes of scandium oxide over five years near Sunrise's Syerston project, and mill-scale metrics for Dumont (30-year life, 33,000 tpa ramping to 50,000 tpa by year 8; C1 cash costs of $3.22/lb). The company lists royalty rates for major assets (Dumont 1.75% NSR; Turnagain 2.0% NSR; Flemington 1.5% GRR; Nyngan 1.7% GRR) and notes the Sunset property impairment as of Jan 31, 2025.

Nickel 28 (CONXF) confirmed a pending cash distribution and loan repayment from its Ramu joint venture for H1 2025. The company expects a cash distribution of ~US$1.4 million attributable to its 8.56% interest in the Ramu Nickel‑Cobalt project, plus confirmation of a US$2.5 million repayment of its share of partner construction debt, reducing Nickel 28's attributable debt balance to approximately US$34.9 million.

The timing is anticipated during October 2025. Management noted H1 2025 production was reduced by a blower failure from mid‑November 2024 to mid‑February 2025, and expects a full six months of uninterrupted production in H2 2025, which could improve future distributions assuming stable or higher commodity prices.

Nickel 28 Capital Corp. (TSXV: NKL) has reported its financial results for Q2 2025, highlighting its 8.56% joint-venture interest in the Ramu Nickel-Cobalt operation in Papua New Guinea. The company achieved production of 8,564 tonnes of nickel and 787 tonnes of cobalt in mixed hydroxide precipitate (MHP).

Key financial metrics include a share of operating profit of US$1.2 million from Ramu Nickel Mine, total net profit of US$0.1 million, and a quarter-end cash balance of US$8.0 million. Production costs averaged US$2.68/lb of contained nickel. The company completed its NCIB program, purchasing and cancelling 3,466,500 common shares, and maintains a non-recourse construction debt of US$37.5 million.

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.