Nickel Mines Announced A$231 million Equity Raise To Increase Its Ownership in HNI and RNI

  • May 19, 2020 12:31 PM AEST
  • Team Kalkine

The Directors of Nickel Mines Limited (ASX:NIC) announced the company’s decision to grow its current 60% ownership interests in both the Hengjaya Nickel RKEF Project (HNI) as well as Ranger Nickel RKEF Project (RNI) to 80%. The Directors have come to this decision after consulting with NIC’s collaboration partner, Shanghai Decent Investment Group Co., Ltd and its associate.

Gold MTF non-AMP

Once the transaction gets completed, NIC’s attributable share of nickel production will increase from ~26,000 tonnes per annum to ~35,000 tonnes per annum.

To fund the consideration payable to Shanghai Decent related to the Transaction, the company announced that it would undertake A$231 million fully underwritten, accelerated pro-rata non-renounceable entitlement offer.

 


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