Nico Resources Raises A$3.7m to Accelerate Wingellina Nickel-Cobalt Development

An update from NICO Resources Limited ( (AU:NC1) ) is now available.

Nico Resources has completed a heavily oversubscribed share placement, raising A$3.73 million through the issue of 12.4 million new shares at A$0.30 each to professional and institutional investors. The funds will be used primarily to advance exploration and development work at the company’s flagship Wingellina nickel-cobalt project, including the start of an infill drilling program, as well as to support general working capital needs. The placement was priced at a discount to the most recent closing price but at a premium to the five-day volume-weighted average, highlighting strong institutional appetite and confidence in Wingellina’s status as a premier undeveloped nickel project outside Indonesia, and potentially strengthening Nico’s financial position as it progresses what management describes as a transformational year for the business.

The most recent analyst rating on (AU:NC1) stock is a Hold with a A$0.35 price target. To see the full list of analyst forecasts on NICO Resources Limited stock, see the AU:NC1 Stock Forecast page.

More about NICO Resources Limited

Nico Resources Limited is an Australian minerals company focused on developing the Wingellina nickel-cobalt project in Western Australia. Wingellina is a large oxide-type nickel-cobalt deposit with JORC-compliant resources and reserves supporting long-life production of mixed hydroxide precipitate, targeting approximately 40,000 tonnes of nickel and 3,000 tonnes of cobalt annually over an expected multi-decade mine life, positioning the project as a Tier 1, low-cost asset in the global battery metals supply chain.

Average Trading Volume: 230,880

Technical Sentiment Signal: Buy

Current Market Cap: A$41.04M

For a thorough assessment of NC1 stock, go to TipRanks’ Stock Analysis page.