Ha. No, it seems the governance of this outfit is a bit lacking, if that "Please Explain" is how they do business@Dona Ferentes - did you ask naughty boy in reference to me not taking up foreshadowed CVN tip or the previous MD of NC1
For the first one, obviously MEEEEEEE
hopefully that will be better now with more matured people joining the board and gradual change of the senior management - fresh blood, reduced influence of MLX and good governance
Good evening Miner
Sorry @rcw1 - it is almost one month since you asked and I did not visit the thread or reply to you. Justice late means justice denied but that was not the intention. Meant to be getting an automatic trigger when someone posts. No excuse but could @Joe Blow please check the IT issue if any
High Pressure acid Leach (“HPAL”) bench scale metallurgical testwork was completed in the September quarter and the final reports from ALS Laboratories were received during the December quarter. Further review and analysis of the results of the metallurgical testwork was undertaken during the quarter. The metallurgical testwork has delivered improved results and the production of a saleable nickel-cobalt product from Wingellina ore. The Wingellina project was awarded Major Project Status by the Federal Government which recognises its national significance and importance in the energy transition. Nico has received a tax refund of $1.04 million relating to the Company’s Research and Development activities for the 2024 financial year. Following the completion of the upgraded Independent Mineral Resource Estimate for the Wingellina Project, Nico commenced the development of a geometallurgical model for the project during the quarter. It is anticipated this model will be complete before the end of the current quarter. The company continued to reduce discretionary expenditure during the quarter in light of the current metals price environment and short term outlook. The Company remains confident that nickel prices will strengthen in the medium term.
The dream seller from Nico has now left and selling dreams from a new company owned by father and son. So Nico is counting days and months for rescue.Good afternoon
No post for 21 months or thereabouts ...
What's doing??
SP all time low achieved on Friday 28/02/25 and on 19/12/24!!
View attachment 194516
- As at 31 December 2024, cash burn $762K with 3.87 quarters of funding left in the piggy bank;
- Nico closed the quarter with cash and working capital of $2,951,522;
- Exploration and Evaluation expenditure during the quarter was $214,679; and
- December 2024 quarterly highlights (see attached):
View attachment 194519
Not holding
- Nickel price has halved in the last 2 years due to massive supply from Indonesia (western world supply at 30 year lows);
- All nickel stocks have underperformed the metal price - deep into the cost curve and around 50% of operations are loss making at the current price; and
- It is difficult to see much downside from current prices and demand growth is still strong at around 5%pa (driven by stainless steel) – additional 1.5 million tonnes pa required by 2030
Kind regards
rcw1
drum roll
vindicated... open and above $0.09drum roll
Nico Resources has received firm commitments from institutional and sophisticated investors to raise $1,100,000 (before costs) by way of an issue of 13.75 million fully paid ordinary shares at a price of $0.08 per share .
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