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The latest update is out from Nickel Mines Ltd. ( (AU:NIC) ).
Nickel Industries Limited has announced promising updates on its Sampala Project, highlighting significant exploration progress and resource potential. The company reported an Exploration Target of 350 to 700 million dry metric tonnes with nickel grades between 0.9% to 1.1%, in addition to an existing 187 million dmt Resource. Successful drilling has uncovered high-grade saprolite and limonite intercepts, reinforcing the potential of the Sampala Project to become one of the largest nickel deposits globally. This development is expected to enhance Nickel Industries’ self-sufficiency in nickel ore supply for its downstream operations and solidify its position as a major player in the global nickel market.
More about Nickel Mines Ltd.
Nickel Industries Limited, operating in the mining sector, focuses primarily on nickel and cobalt production. The company is strategically positioned in the Indonesia Morowali Industrial Park, leveraging its proximity to significant nickel resources and utilizing advanced mining operations such as rotary kiln electric furnace (RKEF) and high-pressure acid leach (HPAL) processes.
YTD Price Performance: -3.05%
Average Trading Volume: 3,650,776
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$3.41B
For detailed information about NIC stock, go to TipRanks’ Stock Analysis page.
