Nickel miner Panoramic Resources has completed the retail component of its one-for-six entitlement offer, launched in December last year.
The miner on Tuesday said that at the retail entitlement offer closed on January 10, raising some A$19-million, at 30c a share, with eligible shareholders taking up 72.4% of the entitlements.
FPX Nickel – A look ahead to 2020 plans and the potential in the EV market
FPX Nickel (FPX-TSX.V & OTC:FPOCF) has been mentioned a few times over the past couple months on the show. Jayant Bhandari and Brien Leni are a couple of my recent guests that hold shares and think there is some nice upside still to come.
The Company just released news regarding metallurgical tests that yielded 99.5% recoveries of a high grade nickel-cobalt solution. It was also noted that this solution has the potential to be used in the electric vehicle market. FPX’s President and CEO Martin Turenne joined me to share what the Company has planned for this year and the significance of possibly opening up the electric vehicle market for the project.
Successful leach testing of high-grade nickel concentrates from Vancouver-based explorer FPX Nickel’s Decar nickel district, near Fort St James, British Columbia, has confirmed nickel recoveries up to 99.5% in producing a high-concentration nickel/cobalt chemical solution suitable for the electric vehicle (EV) battery supply chain. The results of this test programme position Decar as a potentially significant supplier of nickel for the stainless steel and the EV battery markets, the company indicated in a statement on Tuesday.
A Dive Into Base Metals Investing – A Focus On What Can Driver Copper
Brien Leni joins me today to discuss where he stands on investing in the base metals. We focus on copper but also mention a number of other base metals from an investment angle. There is a supply and demand side as well as outside factors that have been driving price over the past few years.
One of the world’s largest openpit nickel sulphide mines, Santa Rica in Brazil, is back in production, with Atlantic Nickel on Monday announcing the first sale of nickel concentrate from the mine that it bought in 2018. Atlantic, which is owned by investment advisory firm Appian Capital, restarted blasting activities in July last year, and has now produced more than 11 000 dry metric tonnes.
Nickel miner Panoramic Resources has flagged a 22% drop in nickel production for the December quarter, and a 19% drop in copper production, compared with the previous quarter.
During the three months to December, Panoramic produced 1 042 t of nickel and 695 t of copper, as well as 55 t of cobalt.
Nickel miner Panoramic Resources has completed the institutional component of its one-for-six non-renounceable entitlement offer, which is expected to raise some A$31-million.
The miner on Monday said that it had received commitments for some A$6.4-million, with around A$3.9-million raised in the institutional component, and a further A$2.5-million to be raised during the shortfall settlement, subject to shareholder approval.
Nickel miner Western Areas has resumed normal operations at its Forrestania project, in Western Australia, following a bush fire.
The miner on Thursday last week temporarily suspended operations at Forrestania following a bush fire incident, which was likely started by a lightning strike.
An operational review of the Savannah project, in Western Australia, has confirmed the integrity of the overall mine design and operating parameters, while also confirming the absence of any fatal flaws in the overall project design and operating plan.
ASX-listed Panoramic Resources last month launched the review of its Savannah project, as the operation continued to perform below expectations.
ASX-listed Blackstone Minerals has inked a memorandum of understanding (MoU) with Korean battery cathode manufacturer Ecopro BM Co to partner on a downstream processing facility for Blackstone’s Ta Khoa nickel project, in Vietnam.
The two companies will work on an alliance to form a joint venture (JV) with the intention of developing a suitable nickel, cobalt or other battery mineral product for lithium-ion battery manufacturing, using ore from Ta Khoa.