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Nickel Mines Announces of Intention to Move To 80% Of Hengjaya Nickel and Ranger Nickel Rkef Projects

17 Jun 2020  |  09:24:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Move to 80% of Hengjaya and Ranger RKEF Projects

Nickel Mines advised that the Company has notified its collaboration partner, Shanghai Decent, of its intention to acquire a further 20% of the issued and paid-up share capital of Hengjaya Holdings Private and Ranger Investment Private, being the respective Singaporean domiciled holding companies that wholly own PT Hengjaya Nickel Industry and PT Ranger Nickel Industry, the Indonesian PMA companies that in turn own 100% of the Hengjaya Nickel and Ranger Nickel Projects. The Company will use funds raised in the completed A$231m Accelerated Non-Renounceable Entitlement Offer to fund the acquisition which is scheduled to complete on 30 June 2020.

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