Nickel 28 Capital Corp (TSE:NKL) has released an update.
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Nickel 28 Capital Corp. is set to receive a cash distribution of approximately US$4.0 million for its stake in the Ramu Nickel-Cobalt project, despite the low nickel and cobalt prices in the first half of 2024. The company’s CEO credits Ramu’s efficient operations and low operating costs for the ability to generate surplus cash. Additionally, Nickel 28 will see a reduction in its construction debt by US$7.5 million, leaving an outstanding balance of US$37.7 million.
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