Nickel 28 Capital Corp (TSE:NKL) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.
For further insights into TSE:NKL stock, check out TipRanks’ Stock Analysis page.