Toronto, Ontario--(Newsfile Corp. - December 18, 2024) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") has released its results for the quarter ended October 31, 2024. All figures are expressed in United States dollars, unless otherwise indicated.

Quarterly Highlights

The Company's principal asset, its 8.56% joint-venture interest in the Ramu Nickel-Cobalt integrated operation in Papua New Guinea ("Ramu"), had another strong quarter. Highlights from Ramu and the Company during the quarter include:

Cash distribution from Ramu for H1 2024 of $4.0 million and repayment of $7.5 million of construction debt during the quarter, for a total distribution of $11.5 million.
Quarter end cash balance of US$9.3 million.
Total non-recourse construction debt of US$38.2 million as at October 31, 2024.
Production of 6,880 tonnes of contained nickel and 634 tonnes of contained cobalt in mixed hydroxide precipitate ("MHP") during the third calendar quarter.
Sales of 8,685 tonnes of contained nickel and 798 tonnes of contained cobalt in MHP during the third calendar quarter.
Actual cash costs for the third calendar quarter, net of by-product sales, of US$2.96/lb. of contained nickel.
Share of operating profit from Ramu of $3.7 million during the third calendar quarter.
Total net and comprehensive income of US$2.0 million (US$0.02/share) for the three months ended October 31, 2024.

see & read more on
https://www.newsfilecorp.com/release/234232/