Blackstones $2.75m investment for 15% of NC1 - described by Blackstone as their initial investment. See the dot points below from Blackstones market update.
”NICO holds three exploration licenses covering the Wingellina (WA), Claude Hills (SA) and Mt Davies (SA) project areas in Central Australia (NICO’s ‘Central Musgrave Project’). Wingellina and Claude Hills have a JORC compliant Mineral Resource of 1.95Mt of nickel (refer Table 1) and JORC compliant Probable Reserve of 1.56Mt of nickel (refer Table 2).
Highlights of the NICO investment include: Blackstone Makes Strategic Investment in One of the World’s Largest Undeveloped Nickel Projects As a result of the continuing decline in global nickel sulfide resources, Blackstone considers that nickel laterite projects of scale will play an important role in delivering products into the lithium-ion battery industry. The NICO management team is aligned with Blackstone’s ambitions to develop and operate sustainable mining operations.
• The Central Musgrave Project is one of the largest undeveloped nickel resources globally
• Historically, the Central Musgrave Project has generated significant interest from major battery metals players including Posco and Samsung. Blackstone considers the Central Musgrave Project is of particular importance to growing relationships between Australia and South-East Asia (and South Korea in particular)
• Prior metallurgical test work programs undertaken for the Central Musgrave Project indicate the potential commercial production of high quality- cobalt and nickel sulphates, mixed nickel sulphates, mixed nickel/ cobalt sulfides, hydroxides and carbonates and scandium”
NC1 Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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