Nickel 28 Releases Ramu Q2 2025 Operating Performance
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) ha comunicato solidi risultati operativi nel 2° trimestre 2025 grazie alla sua quota di joint venture dell'8,56% nell'impianto Ramu Nickel-Cobalt in Papua Nuova Guinea. Lo stabilimento ha registrato significativi incrementi di produzione: 8.564 tonnellate di nichel contenuto e 787 tonnellate di cobalto contenuto in MHP, in aumento anno su anno del 13,4% e del 16,6% rispettivamente.
I costi di produzione si sono ridotti a US$2.68/lb di nichel (al netto dei crediti per sottoprodotti), rispetto a US$3.37/lb nel 2T 2024. A giugno la società ha completato la manutenzione annuale di due autoclavi HPAL, predisponendo le condizioni per una seconda metà del 2025 senza interruzioni. Con 2.843 tonnellate di scorte di nichel in MHP a fine trimestre, il management prevede volumi di vendita più robusti nella seconda metà del 2025.
Nickel 28 Capital Corp. (TSXV: NKL) informó sólidos resultados operativos en el 2T 2025 por su participación del 8,56% en la empresa conjunta del proyecto Ramu Nickel-Cobalt en Papúa Nueva Guinea. La planta alcanzó importantes incrementos de producción, con 8.564 toneladas de níquel contenido y 787 toneladas de cobalto contenido en MHP, lo que supone aumentos interanuales del 13,4% y 16,6%, respectivamente.
Los costes de producción mejoraron hasta US$2.68/lb de níquel (neto de créditos por subproductos), frente a US$3.37/lb en el 2T de 2024. En junio la compañía completó el mantenimiento anual de dos autoclaves HPAL, preparando el terreno para una segunda mitad de 2025 sin interrupciones. Con 2.843 toneladas de inventario de níquel en MHP al cierre del trimestre, la dirección espera volúmenes de venta más fuertes en la segunda mitad de 2025.
Nickel 28 Capital Corp. (TSXV: NKL)는 파푸아뉴기니의 라무 니켈-코발트 사업에 대한 지분 8.56%를 통해 2025년 2분기에 양호한 실적을 보고했습니다. 시설은 생산이 크게 증가하여 MHP 기준 함유 니켈 8,564톤과 함유 코발트 787톤을 기록했으며, 이는 전년 동기 대비 각각 13.4% 및 16.6% 증가한 수치입니다.
생산 단가는 부산물 크레딧을 제외하고 니켈당 US$2.68/lb로 개선되어 2024년 2분기의 US$3.37/lb에서 하락했습니다. 회사는 6월에 HPAL 오토클레이브 2대에 대한 연례 정비를 완료해 2025년 하반기에는 중단 없는 가동을 기대하게 했습니다. 분기 말 MHP에 니켈 재고 2,843톤을 보유하고 있어 경영진은 2025년 하반기 판매량 증가를 전망하고 있습니다.
Nickel 28 Capital Corp. (TSXV: NKL) a annoncé de solides résultats opérationnels au 2e trimestre 2025 pour sa participation de 8,56% dans la coentreprise de l'exploitation Ramu Nickel-Cobalt en Papouasie-Nouvelle-Guinée. L'installation a enregistré de fortes augmentations de production : 8 564 tonnes de nickel contenu et 787 tonnes de cobalt contenu en MHP, soit des hausses annuelles de 13,4% et 16,6% respectivement.
Les coûts de production se sont améliorés à US$2.68/lb de nickel (nets des crédits liés aux sous-produits), contre US$3.37/lb au T2 2024. En juin, la société a achevé la maintenance annuelle de deux autoclaves HPAL, préparant une seconde moitié de 2025 sans interruption. Avec 2 843 tonnes de stock de nickel en MHP à la clôture du trimestre, la direction anticipe des volumes de vente plus soutenus au S2 2025.
Nickel 28 Capital Corp. (TSXV: NKL) meldet starke operative Ergebnisse im 2. Quartal 2025 aus seiner 8,56%-Joint-Venture-Beteiligung am Ramu Nickel-Cobalt-Betrieb in Papua-Neuguinea. Die Anlage verzeichnete deutliche Produktionssteigerungen mit 8.564 Tonnen enthaltenem Nickel und 787 Tonnen enthaltenem Kobalt in MHP, was einem Jahresanstieg von 13,4% bzw. 16,6% entspricht.
Die Produktionskosten verbesserten sich auf US$2.68/lb Nickel (bereinigt um Nebenproduktgutschriften), nach US$3.37/lb im 2. Quartal 2024. Im Juni führte das Unternehmen planmäßige Wartungsarbeiten an zwei HPAL-Autoklaven durch, was die Erwartungen an eine unterbrechungsfreie zweite Jahreshälfte 2025 stützt. Mit 2.843 Tonnen Nickelbestand in MHP zum Quartalsende rechnet das Management mit stärkeren Verkaufsvolumina in H2 2025.
- None.
- LME average nickel price decreased 18% YoY to US$6.88/lb
- Q1 2025 nickel inventory figures required correction from 4,134 to 2,125 tonnes
Toronto, Ontario--(Newsfile Corp. - August 11, 2025) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") is pleased to provide operational results for the quarter ending June 30, 2025 for the Company's largest asset; the Ramu Nickel-Cobalt ("Ramu") integrated operation in Papua New Guinea. Nickel 28 currently holds an
Q2 2025 Ramu Highlights:
- Production of 8,564 tonnes of contained nickel in Mixed Hydroxide Precipitate ("MHP"), compared to 7,555 tonnes in the same period last year.
- Production of 787 tonnes of contained cobalt in MHP, compared to 675 tonnes in the same period last year.
- Nickel sales of 7,846 tonnes of contained nickel, compared to 7,666 tonnes in the same period last year.
- Nickel inventory on hand at quarter end was 2,843 tonnes of nickel in MHP.
- Cobalt sales of 719 tonnes of contained cobalt, compared to 684 tonnes in the same period last year.
- LME average nickel price of US
$6.88 /lb in Q2 2025, a decrease of18% from the same period last year. - Average cobalt price of US
$15.23 /lb. in Q2 2025 an increase of18% from the same period last year. - Production costs, net of by-product credits, were US
$2.68 /lb. of nickel produced as MHP in Q2 2025, compared to US$3.37 /lb in the same period last year. H1 2025 cash cost, net of by-product credits, were US$3.10 /lb. of nickel produced as MHP, compared to US$3.17 /lb.
Nickel 28's Chief Executive Officer, Craig Lennon stated: "Performance during Q2 2025 was strong and the activities undertaken set the project up for what we expect will be a very good second half of the year. The beginning of Q2 2025 continued as Q1 2025 ended, with record weekly production rates. As detailed in the Q1 2025 press release, these record production rates are the direct result of the capital upgrades undertaken last year. During June the project undertook annual shutdown maintenance on two of the project's three HPAL (high pressure acid leach) autoclaves, the third HPAL autoclave underwent annual maintenance during Q1 2025. That annual maintenance has been completed means that, assuming no unforeseen issues, we expect the second half of 2025 will be interruption free in terms of production. On the sales front, the second half of 2025 is also expected to be stronger than the first half in terms of tonnages sold, with strong production and an inventory balance of 2,843t of nickel in MHP on hand at the end of Q2 2025 driving this higher sales expectation."
Ramu's operating performance for the period is presented below along with a comparison to the prior year.
| 2024 | 2025 | |||
| Q2 | Half Year | Q2 | Half Year | |
| Ore Processed (dry kt) | 856 | 1,793 | 885 | 1,609 |
| MHP Produced (dry tonne) | 18,899 | 39,426 | 20,859 | 37,762 |
| Contained Nickel (tonne) | 7,555 | 15,837 | 8,564 | 15,534 |
| Contained Cobalt (tonne) | 675 | 1,442 | 787 | 1,435 |
| Nickel Capacity Utilization (% of design1) | | | | |
| MHP Shipped (dry tonne) | 19,140 | 41,410 | 18,864 | 33,808 |
| Contained Nickel (tonne) | 7,666 | 16,530 | 7,846 | 13,979 |
| Contained Cobalt (tonne) | 684 | 1,506 | 719 | 1,288 |
| Production Cost Actual (2) | $ 3.37 | $ 3.17 | $ 2.68 | $ 3.10 |
Note 1. Ramu's initial design capacity is 32,600 tonnes/year of nickel contained in MHP
Note 2. Actual cost per pound of nickel contained in MHP net of by-product credits
The figures in the table above have not been audited and are subject to change. As Ramu has not yet finished any audit or review procedures in respect of the fiscal quarter, the financial information presented in this press release is preliminary, subject to audit, final adjustment and may change materially. The information presented above has not been reviewed or audited by the Company's auditor and should not be considered a substitute for reviewed or audited financial statements and should not be regarded as a representation by the Company as to the actual financial results.
Q1 2025 Reported Nickel Inventory Correction:
On April 25, 2025 Nickel 28 reported the Q1 2025 operating performance for the Ramu mine. Due to an inadvertent error, that press release stated that Ramu had nickel (in MHP) inventory on hand at the end of the quarter of 4,134 tonnes. The correct figure for nickel inventory on hand at the end of Q1 2025 was 2,125 tonnes.
About Nickel 28
Nickel 28 Capital Corp. is a nickel-cobalt producer through its
Cautionary Note 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; statements with respect to the prospects of nickel and cobalt in the global electrification of vehicles; statements related to the repayment of the Company's Ramu operating debt (and the timing thereof); statements related to the Company's attributable cash flow (and the receipt and timing thereof); 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.
Investor Relations Contact Information:
Nickel 28 Investor Relations
Attn: Brett Richards, Director/Advisor
Director Tel: +1 905 449 1500
Email: info@nickel28.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261982
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