Welcome to our dedicated page for Nickel 28 Capital news (Ticker: CONXF), a resource for investors and traders seeking the latest updates and insights on Nickel 28 Capital stock.
Nickel 28 Capital Corp. (CONXF) is frequently described in its public disclosures as a nickel-cobalt producer through its 8.56% joint-venture interest in the producing Ramu Nickel-Cobalt Operation in Papua New Guinea and as the manager of a portfolio of nickel and cobalt royalties in Canada, Australia and Papua New Guinea. The company’s news flow centers on operating performance at Ramu, financial results, royalty portfolio developments and corporate actions.
Investors following CONXF news can review detailed quarterly operating updates from Ramu, including production and sales volumes of contained nickel and cobalt in mixed hydroxide precipitate, production costs per pound of nickel net of by-product credits, and capacity utilization relative to design capacity. These releases often link operating performance to cash distributions from the Ramu joint venture and reductions in Nickel 28’s non-recourse construction debt.
Nickel 28 also publishes news on its royalty portfolio, outlining progress at underlying projects such as Dumont, Turnagain, Flemington and Nyngan, and highlighting exposure to critical minerals and scandium-focused developments. Additional announcements cover financial statement filings, annual general meeting results, and capital allocation decisions such as normal course issuer bids to repurchase and cancel common shares.
This news page aggregates these company-issued updates so readers can review how Ramu’s operating metrics, royalty portfolio milestones, and corporate decisions are described over time. For investors and observers interested in nickel, cobalt and critical mineral themes, the CONXF news feed provides direct access to Nickel 28’s own commentary on its assets and market context.
Nickel 28 Capital Corp. (TSXV: NKL) has released Q2 2024 operational results for its Ramu Nickel-Cobalt integrated operation in Papua New Guinea. Key highlights include:
- Production of 7,555 tonnes of contained nickel and 675 tonnes of contained cobalt in MHP
- Sales of 7,666 tonnes of contained nickel and 684 tonnes of contained cobalt
- Average nickel price of US$8.34/lb, down 18% year-over-year
- Average cobalt price of US$12.92/lb, down 15% year-over-year
- Cash cost of $3.37/lb of nickel produced as MHP, down 14% year-over-year
Despite slightly lower production due to ongoing capital replacement work, Ramu continues to operate at near nameplate capacity and remains one of the lowest-cost MHP producers globally.
Nickel 28 Capital Corp. (TSXV: NKL) has received TSXV approval for a normal course issuer bid (NCIB) to repurchase up to 7,153,629 common shares, representing approximately 7.9% of its outstanding shares. The NCIB will run from July 26, 2024, to July 25, 2025. Management believes the stock is trading at a substantial discount to net asset value and aims to enhance shareholder value through this program. Haywood Securities Inc. will administer the NCIB, with purchases made on the open market through TSXV or alternative Canadian trading systems. An automatic purchase plan will allow for share repurchases during blackout periods.
Nickel 28 Capital has announced a proposed normal course issuer bid (NCIB) to repurchase up to 7,153,629 of its common shares, representing approximately 7.9% of its total shares. This decision accompanies the adoption of a new shareholder capital return policy aimed at increasing the net asset value per share by utilizing excess liquidity. The board believes the current trading price undervalues the company. All shares bought back will be canceled, benefiting remaining shareholders by increasing their ownership percentage. The NCIB is pending approval from the TSX Venture Exchange and will be managed by Haywood Securities Inc.
Nickel 28 Capital Corp. has filed its annual financial statements for the fiscal year ending January 31, 2024, and interim financial statements for the quarter ending April 30, 2024.
Key highlights include production of 33,604 tonnes of nickel and 3,072 tonnes of cobalt, and sales of 34,122 tonnes of nickel and 3,086 tonnes of cobalt. The Ramu project generated revenues of approximately $644 million. The company faced a net loss of $6.2 million for the year, despite repaying $14.4 million of its construction debt.
For the first quarter of 2024, Nickel 28 reported production of 8,282 tonnes of nickel and 767 tonnes of cobalt, with sales totaling 8,864 tonnes of nickel and 822 tonnes of cobalt. The company experienced a net loss of $0.9 million but ended the quarter with a cash balance of $9.7 million. Additionally, Nickel 28 received a $3.0 million cash distribution from the Ramu project for its share of operating surpluses for the latter half of 2023.
The company also announced permanent appointments for Christopher Wallace as CEO and Craig Lennon as CFO.
The management cease trade order granted for delayed filings is expected to be lifted on July 4, 2024.
Summary not available.