Nickel 28 Releases Ramu Q2 2025 Operating Performance

Core Insights - Nickel 28 Capital Corp. reported strong operational results for Q2 2025, particularly from its Ramu Nickel-Cobalt operation in Papua New Guinea, with expectations for a robust second half of the year [1][3]. Operational Performance - Ramu's ore processed in Q2 2025 was 885,000 tonnes, a slight increase from 856,000 tonnes in Q2 2024 [4]. - MHP produced in Q2 2025 was 20,859 dry tonnes, up from 18,899 dry tonnes in the same period last year [4]. - Contained nickel production increased to 8,564 tonnes in Q2 2025 from 7,555 tonnes in Q2 2024, while contained cobalt production rose to 787 tonnes from 675 tonnes [4][6]. - Nickel capacity utilization reached 105% of design capacity in Q2 2025, compared to 93% in Q2 2024 [4]. Sales and Inventory - Nickel sales in Q2 2025 were 7,846 tonnes, slightly higher than 7,666 tonnes in Q2 2024 [6]. - Cobalt sales increased to 719 tonnes in Q2 2025 from 684 tonnes in the same period last year [6]. - The nickel inventory at the end of Q2 2025 was 2,843 tonnes [6]. Financial Metrics - The average nickel price on the LME in Q2 2025 was US$6.88 per pound, an 18% decrease from the previous year, while the average cobalt price was US$15.23 per pound, an 18% increase [6]. - Production costs for nickel in Q2 2025 were US$2.68 per pound, down from US$3.37 per pound in Q2 2024 [6]. Future Outlook - The company anticipates uninterrupted production in the second half of 2025 following the completion of annual maintenance on its HPAL autoclaves [3]. - Strong production and an inventory balance are expected to drive higher sales in the latter half of 2025 [3]. Company Overview - Nickel 28 holds an 8.56% joint-venture interest in the Ramu Nickel-Cobalt operation, which is significant for the production of nickel and cobalt, essential for electric vehicle adoption [1][8].