Nickel 28 Capital Corp - Mining Stock Analysis & Updates
Latest News and Market Performance for Nickel 28 Capital Corp
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Nickel 28 Announces Confirmation of Cash Distribution from Ramu Joint Venture
Nickel 28 Capital Corp. announces an upcoming cash distribution of approximately US$1.2 million from its Ramu joint venture, alongside a US$2.1 million debt repayment. Production was affected in H2 2024 by planned shutdowns and mechanical failures, but 2025 is expected to improve.
Nickel 28 Announces Ramu Nickel-Cobalt Mine Returns to Full Production Capacity
Nickel 28 Capital Corp. announced the resumption of full production at the Ramu Nickel-Cobalt Mine's HPAL plant after resolving a mechanical issue. The company projects 2025 production of approximately 32,000 Mt of nickel and 2,900 Mt of cobalt.
Nickel 28 Releases Ramu Q4 and Full Year 2024 Operating Performance
Nickel 28 Capital Corp. reported operational results for Q4 and full year 2024 for its Ramu Nickel-Cobalt operation, highlighting decreased production and sales of nickel and cobalt due to a planned plant shutdown, alongside lower average market prices for both metals.
Nickel 28 Provides Corporate Update
Nickel 28 Capital Corp. appointed Cindy Davis as Chief Financial Officer, succeeding Craig Lennon, who became President & CEO. Davis has over 15 years of experience in financial services. The company also granted 1,050,000 stock options to Lennon as part of his compensation.
Nickel 28 Files Fiscal Q3 2025 Financial Statements
Nickel 28 Capital Corp. reported strong quarterly results for the period ending October 31, 2024, highlighting significant cash distributions, debt repayments, and production figures from its Ramu Nickel-Cobalt operation, alongside ongoing investigations and operational challenges.
Nickel 28 Announces Further Operational Changes and Cost Cutting Measures
Nickel 28 Capital Corp. announces executive changes, with Craig Lennon becoming CEO on December 31, 2024, as Chris Wallace steps down. The company is implementing cost-cutting measures and has stabilized operations after recent leadership changes.
Nickel 28 Responds to Meritless Litigation by Former Executive
Nickel 28 Capital Corp., a nickel-cobalt producer, is facing a legal action filed by its former president, Justin Cochrane. The lawsuit includes allegations of wrongful termination, breach of contract, and unjust enrichment. Cochrane was dismissed on May 3, 2024, due to claims of serious misconduct and non-compliance with company policies. The company denies the allegations and plans to defend itself vigorously, asserting that it may seek to recover losses and gains related to Cochrane's alleged misconduct. Nickel 28 holds an 8.56% interest in the Ramu Nickel-Cobalt Operation in Papua New Guinea and manages a portfolio of 10 nickel and cobalt royalties on projects in Canada, Australia, and Papua
Nickel 28 Provides Update on Executive Compensation Matters and Announces Adoption of Fixed Stock Option Plan
Nickel 28 Capital Corp. has announced the adoption of a 10% fixed stock option plan as part of its improved executive compensation program. This is the culmination of a process initiated in August 2023 after the reconstitution of the company's board. The process involved a comprehensive review of executive compensation, conducted by an independent Special Committee, in conjunction with an independent investigation into historical compensation arrangements. The board also engaged Compensation Governance Partners Inc., an independent advisory firm, to assist with the review and development of a new compensation framework.
Nickel 28 Releases Ramu Q3 2024 Operating Performance
Nickel 28 Capital Corp. has released its Q3 2024 operational results for its largest asset, the Ramu Nickel-Cobalt operation in Papua New Guinea. The company reported a decrease in production due to a planned full shutdown, with 6,880 tonnes of nickel and 634 tonnes of cobalt produced. Nickel sales amounted to 8,685 tonnes and cobalt sales to 798 tonnes. Average nickel prices decreased by 17% and cobalt prices by 31% compared to the same period the previous year. Despite the shutdown for capital improvement projects, Nickel 28 expects Ramu's full-year production to remain within guidance.
