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Pacific Nickel Mines Limited ( (AU:PNM) ) has provided an announcement.
Pacific Nickel Mines Limited has put the Kolosori Nickel Project on hold due to weak nickel prices, operational challenges, and the need for project funding. The company is in discussions with Glencore International AG for financing solutions while remaining in voluntary suspension on the ASX. The resolution of funding arrangements is crucial for the company’s financial viability and the continuation of operations. Corporate changes include the resignation of Geoff Hiller as CEO and the appointment of Gary Stewart as a director.
More about Pacific Nickel Mines Limited
Pacific Nickel Mines Limited operates in the mining industry, focusing primarily on nickel extraction. The company’s primary project is the Kolosori Nickel Project, a nickel laterite operation located on Isabel Island in the Solomon Islands.
YTD Price Performance: 40.0%
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €6.01M
See more data about PNM stock on TipRanks’ Stock Analysis page.