Nickel 28 Announces Confirmation of Cash Distribution from Ramu Joint Venture
Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) has announced the pending receipt of its seventh cash distribution from the Ramu joint venture. The company will receive approximately US$4.0 million for H1 2024 operating performance, related to its 8.56% interest in the Ramu Nickel-Cobalt project in Papua New Guinea. Additionally, Nickel 28 confirmed a US$7.5 million repayment of its portion of the remaining joint venture partner construction debt, reducing its attributable balance to about US$37.7 million.
Despite low nickel and cobalt prices in the first half of 2024, Ramu's efficient operations and low operating costs allowed for surplus cash generation. The distribution amount was also positively affected by changes in working capital balances. The company expects to receive the distributions in October 2024, although the exact timing is yet to be confirmed.
Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ha annunciato il ricevimento imminente della sua settima distribuzione in contante dalla joint venture Ramu. L'azienda riceverà circa 4,0 milioni di dollari USA per le performance operative del primo semestre del 2024, relative al suo interesse del 8,56% nel progetto Nickel-Cobalto Ramu in Papua Nuova Guinea. Inoltre, Nickel 28 ha confermato un rimborso di 7,5 milioni di dollari USA della sua parte del debito residuo della costruzione del partner della joint venture, riducendo il suo saldo attribuibile a circa 37,7 milioni di dollari USA.
Nonostante i bassi prezzi di nickel e cobalto nel primo semestre del 2024, le operazioni efficienti del Ramu e i bassi costi operativi hanno consentito una generazione di cassa in surplus. L'importo della distribuzione è stato inoltre influenzato positivamente dai cambiamenti nei saldi del capitale lavoro. L'azienda prevede di ricevere le distribuzioni in ottobre 2024, anche se il tempismo esatto deve ancora essere confermato.
Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ha anunciado el inminente recibo de su séptima distribución en efectivo de la empresa conjunta Ramu. La compañía recibirá aproximadamente 4,0 millones de dólares estadounidenses por el desempeño operativo del primer semestre de 2024, relacionado con su interés del 8,56% en el proyecto Nickel-Cobalto Ramu en Papúa Nueva Guinea. Además, Nickel 28 confirmó un reembolso de 7,5 millones de dólares estadounidenses de su parte de la deuda de construcción restante de los socios de la empresa conjunta, reduciendo su saldo atribuible a unos 37,7 millones de dólares estadounidenses.
A pesar de los bajos precios del níquel y cobalto en el primer semestre de 2024, las operaciones eficientes de Ramu y los bajos costos operativos permitieron la generación de efectivo excedente. El monto de la distribución también se vio afectado positivamente por los cambios en los saldos del capital de trabajo. La compañía espera recibir las distribuciones en octubre de 2024, aunque el momento exacto aún no se ha confirmado.
니켈 28 캐피탈 코퍼레이션 (TSXV: NKL) (FSE: 3JC0)은 라무 합작 투자로부터 일곱 번째 현금 배당금을 곧 받을 것이라고 발표했습니다. 이 회사는 파푸아뉴기니의 니켈-코발트 프로젝트인 라무에서 8.56%의 지분과 관련해, 2024년 상반기 운영 성과에 대해 약 400만 달러를 받을 예정입니다. 추가로, 니켈 28은 나머지 합작 투자 파트너의 건설 부채에 대한 자신의 부분인 750만 달러를 상환하며, 이를 통해 자산 잔액을 약 3770만 달러로 줄였습니다.
2024년 상반기 동안 낮은 니켈과 코발트 가격에도 불구하고, 라무의 효율적인 운영 및 낮은 운영 비용 덕분에 잉여 현금 생성을 할 수 있었습니다. 배당금 액수는 운전 자본 잔액의 변화에 의해 긍정적인 영향을 받았습니다. 이 회사는 2024년 10월에 배당금을 받을 것으로 예상하고 있지만, 정확한 시기는 아직 확인되지 않았습니다.
Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) a annoncé la prochaine réception de sa septième distribution en espèces de la coentreprise Ramu. La société recevra environ 4,0 millions de dollars US pour la performance opérationnelle du premier semestre 2024, en lien avec son intérêt de 8,56 % dans le projet Nickel-Cobalt Ramu en Papouasie-Nouvelle-Guinée. De plus, Nickel 28 a confirmé un remboursement de 7,5 millions de dollars US de sa part de la dette de construction restante du partenaire de la coentreprise, réduisant son solde attribuable à environ 37,7 millions de dollars US.
Malgré les bas prix du nickel et du cobalt au premier semestre 2024, les opérations efficaces de Ramu et les faibles coûts d'exploitation ont permis de générer des liquidités excédentaires. Le montant de la distribution a également été influencé positivement par des changements dans les soldes de fonds de roulement. La société s'attend à recevoir les distributions en octobre 2024, bien que le calendrier exact doit encore être confirmé.
Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) hat den bevorstehenden Erhalt seiner siebten Barauszahlung aus dem Ramu-Joint Venture angekündigt. Das Unternehmen wird voraussichtlich etwa 4,0 Millionen US-Dollar für die Betriebsleistung des ersten Halbjahres 2024 erhalten, die sich auf seinen Anteil von 8,56 % am Nickel-Kobalt-Projekt Ramu in Papua-Neuguinea bezieht. Darüber hinaus bestätigte Nickel 28 eine Rückzahlung von 7,5 Millionen US-Dollar für seinen Anteil an der verbleibenden Bauverschuldung des Joint-Venture-Partners, wodurch der zuzuordnende Saldo auf etwa 37,7 Millionen US-Dollar sinkt.
Trotz der niedrigen Nickel- und Kobaltpreise im ersten Halbjahr 2024 ermöglichten die effizienten Betriebe von Ramu und die niedrigen Betriebskosten die Generierung von überschüssigem Bargeld. Der Ausschüttungsbetrag wurde auch positiv durch Änderungen der Working-Capital-Bestände beeinflusst. Das Unternehmen erwartet, die Ausschüttungen im Oktober 2024 zu erhalten, obwohl der genaue Zeitpunkt noch bestätigt werden muss.
- Received seventh cash distribution of US$4.0 million from Ramu joint venture
- US$7.5 million repayment of construction debt, reducing balance to US$37.7 million
- Ramu project generated surplus cash despite low nickel and cobalt prices
- Low nickel and cobalt prices in H1 2024
Toronto, Ontario--(Newsfile Corp. - October 9, 2024) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) ("Nickel 28" or the "Company") is pleased to announce the pending receipt of its seventh cash distribution from the Ramu joint venture.
Nickel 28 has received confirmation of a cash distribution for H1 2024 operating performance of approximately US
"The first half of 2024 was characterized by low nickel and cobalt prices. Ramu's efficient operations and low operating costs allowed it to generate surplus cash, even in this environment," commented Christopher Wallace, Nickel 28's CEO. "The amount of the distribution also benefitted from certain changes in working capital balances. Working capital tends to even out over the course of the year and subsequent distributions may also be affected by working capital changes, either negatively or positively.
About Nickel 28
Nickel 28 Capital Corp. is a nickel-cobalt producer through its
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to: statements and figures with respect to the operational and financial results of the Ramu project (including the total amount of the anticipated distribution (and the timing thereof)); statements related to the repayment of the Company's Ramu operating debt (and the timing thereof); statements related to the Company's attributable cash flow (and the receipt and timing thereof); and statements with respect to the business and assets of the Company and its strategy going forward. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond the Company's control. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements.
The forward-looking statements contained herein are made as of the date of this release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. The forward-looking statements contained in this release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this news release.
Investor Relations Contact Information:
Nickel 28 Investor Relations
Attn: Christopher Wallace, CEO
Tel: +1 604 307 6229
Email: info@nickel28.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226080
FAQ
What is the amount of cash distribution Nickel 28 (CONXF) will receive from Ramu joint venture for H1 2024?
How much of Nickel 28's (CONXF) construction debt was repaid in this announcement?
What is Nickel 28's (CONXF) current attributable balance of the Ramu joint venture construction debt?
When is Nickel 28 (CONXF) expected to receive the cash distribution from Ramu joint venture?
