Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Nickel Mines Ltd. ( (AU:NIC) ) has provided an update.
Nickel Industries has reshaped the ownership and funding structure of its flagship Excelsior Nickel Cobalt HPAL project, following the completion of Sphere Corp’s acquisition of a 10% stake at a US$2.4 billion project valuation. In parallel, Nickel Industries agreed with major shareholder Shanghai Decent to acquire an additional 2% interest in ENC for US$46 million by 31 March 2026, lifting its stake to 46% and making it the project’s largest shareholder, while replacing previously scheduled payments totalling US$253 million and cutting expected cash outflows by US$207 million. The company is also providing a credit enhancement to back Sphere’s US$210 million acquisition loan, giving Nickel Industries effective priority over Sphere’s 10% ENC stake in the event of default and potential discounted access to that interest, while receiving compensation for the guarantee. Separately, Nickel Industries signed a 15‑year memorandum of understanding for its Sampala Project to supply up to 14 million wet metric tonnes of limonite ore annually to a neighbouring HPAL plant under construction, including plans for a feed preparation plant and slurry pipeline that could make previously uneconomic low-grade saprolite commercially viable. Together, these moves strengthen shareholder alignment around ENC, improve Nickel Industries’ funding profile, and enhance the long-term integration and value of its upstream ore assets for future downstream growth opportunities.
The most recent analyst rating on (AU:NIC) stock is a Buy with a A$1.90 price target. To see the full list of analyst forecasts on Nickel Mines Ltd. stock, see the AU:NIC Stock Forecast page.
More about Nickel Mines Ltd.
Nickel Industries Limited is an Australian-listed producer focused on nickel and cobalt, with key interests in high-pressure acid leach (HPAL) projects such as the Excelsior Nickel Cobalt project (ENC) and upstream ore assets like the Sampala Project. The company targets sustainable, high-quality, low‑carbon nickel products for advanced, high-performance end-markets, positioning itself within the global battery and electric-vehicle raw materials supply chain.
Average Trading Volume: 11,616,467
Technical Sentiment Signal: Buy
Current Market Cap: A$4.12B
See more insights into NIC stock on TipRanks’ Stock Analysis page.