Alliance Nickel MD Paul Kopejtka’s 10 Million Unlisted Options Expire, Company Updates ASX on Director Interests

Director Securities Update and Option Expiry Details

Alliance Nickel Limited officially notified the ASX regarding changes to Managing Director and CEO Paul Kopejtka’s securities interests following the expiration of 10 million unlisted options on 18 July 2026. The Appendix 3Y filing corrects a prior administrative error and informs the market of this lapse. Before expiration, Mr Kopejtka held 20 million unlisted options and 38.5 million unlisted performance rights directly, alongside 36.3 million ordinary shares held indirectly through Netwealth Investments Limited.

The expired options had an exercise price of $0.30 and lapsed without any consideration received. After expiration, Mr Kopejtka’s direct holdings now include 10 million unlisted options and 38.5 million unlisted performance rights, with his indirect ordinary shareholding unchanged at 36.3 million shares. This expiration represents a standard corporate governance event reflecting the natural maturity of his equity incentives.

Commitment to ASX Compliance and Disclosure Obligations

Alliance Nickel reaffirmed its compliance with ASX listing rules 3.19A and 3.19B concerning director interests and continuous disclosure. The company has ensured all directors are aware of their obligations under ASX listing rules 3.19, 3.19B, and section 205G of the Corporations Act, which mandates timely notification of changes in relevant securities interests. A formal Securities Trading Policy has been adopted and publicly disclosed, outlining procedures for disclosure and approval of securities trading by directors and officers.

The company expressed confidence that current compliance measures satisfy listing rule 3.19B requirements and no further actions are necessary. This proactive governance approach highlights Alliance Nickel’s dedication to transparency and regulatory adherence. The director’s interests notification filing ensures the market remains informed about material changes in director shareholdings, promoting equal access to information for all investors.

NiWest Project Progress and Definitive Feasibility Study Outcomes

Alliance Nickel’s core asset is the 100% owned NiWest nickel cobalt project in Western Australia, strategically located adjacent to Glencore’s Murrin Murrin Operations. The project benefits from established infrastructure including roads, rail, and a gas pipeline. In November 2024, the company completed a Definitive Feasibility Study confirming the technical and economic viability of a heap leach and direct solvent extraction process aimed at producing cost-efficient, high-quality Class 1 nickel and cobalt sulphate.

The company confirmed that all material assumptions supporting the production targets and financial forecasts in the Definitive Feasibility Study remain valid and unchanged, providing investor assurance on the project’s development outlook. The targeted market comprises battery manufacturers and automakers in the electric vehicle sector, positioning Alliance Nickel to capitalize on growing demand for battery-grade nickel and cobalt driven by the global EV transition.

Strategic Location and Mining Infrastructure Advantages

Located in Western Australia, the NiWest project contains one of the highest-grade undeveloped nickel laterite resources in the country. Its proximity to Glencore’s Murrin Murrin Operations and access to critical mining infrastructure—including roads, railways, and gas pipelines—significantly reduce capital and operational complexities.

Existing infrastructure facilitates efficient ore transport from mine to processing and onward to market, while the gas pipeline supports the energy-intensive heap leach and solvent extraction processing. These advantages underpin the company’s economic thesis for low-cost, high-quality production outlined in the Definitive Feasibility Study.

Product Offering and Market Position in Battery Materials

Alliance Nickel plans to produce Class 1 nickel and cobalt sulphate products, essential inputs for battery manufacturers in the electric vehicle industry. The company’s processing approach aims to deliver cost-effective, premium-quality products meeting the specifications of major automotive and battery producers transitioning to EV platforms.

By focusing on Class 1 sulphate products, Alliance Nickel targets the highest-value segment of the nickel and cobalt market, supporting premium pricing and strong project economics. Its Australian production base offers customers geographic diversification and supply chain resilience compared to traditional sources.

Director Equity Holdings and Incentive Alignment

Paul Kopejtka holds significant equity in Alliance Nickel across multiple security types, demonstrating strong alignment with shareholder interests. His direct holdings include 10 million unlisted options and 38.5 million unlisted performance rights, alongside 36.3 million ordinary shares held indirectly through Netwealth Investments Limited. The performance rights indicate that part of his remuneration depends on achieving specific performance milestones.

This multi-tiered equity structure aligns Mr Kopejtka’s financial interests with company performance and share price appreciation. The expiration of the $0.30 exercise price options does not materially affect his overall stake, given his substantial holdings in shares and performance rights.

Governance Framework and Regulatory Compliance

Alliance Nickel operates under a formal governance framework with a Board of Directors, Company Secretary, and Chief Financial Officer. Mark Pitts serves as CFO and Company Secretary, overseeing regulatory compliance and ASX liaison. The company’s headquarters are at Unit 8, 47 Havelock Street, West Perth, Western Australia.

Formal policies ensure adherence to continuous disclosure and director conduct standards. The publicly disclosed Securities Trading Policy sets clear guidelines for securities trading approval and disclosure. The company’s confirmation of director awareness regarding ASX and Corporations Act obligations reflects a proactive compliance culture, supporting investor confidence in disclosure integrity.

Critical Minerals Sector Context and Market Drivers

Alliance Nickel operates in the critical minerals sector, increasingly vital due to global supply chain shifts and the renewable energy and EV transition. Nickel and cobalt are classified as critical minerals in key jurisdictions because of their essential battery applications and limited producing countries. Developing new sources in stable jurisdictions with infrastructure and regulatory certainty is highly valued by battery manufacturers and automakers seeking supply security.

Australia’s developed mining environment, skilled workforce, and transparent regulations make it an attractive location for critical minerals projects. NiWest’s Western Australia location, with its mining heritage and infrastructure, positions Alliance Nickel to contribute to expanding battery-grade nickel and cobalt supply. The focus on Class 1 sulphate products aligns with industry trends favoring value-added processing domestically over raw material exports.

Project Risks and Development Challenges

As a mining development company, Alliance Nickel faces inherent risks and uncertainties that may impact project execution and financial results. The company’s forward-looking statements acknowledge factors beyond its control that could cause actual outcomes to differ materially. Regulatory approvals, permitting, financing, and final investment decisions introduce timing and outcome uncertainties.

Successful NiWest project delivery depends on obtaining environmental and mining approvals, securing financing on acceptable terms, maintaining Definitive Feasibility Study assumptions, and meeting production and cost targets. Commodity price volatility, regulatory changes, and competitive pressures could affect project viability. Execution on schedule and budget, securing offtake agreements, and operational risk management are critical. Investors should carefully assess these risks when considering an investment in Alliance Nickel.