Horizonte Minerals plc has again deferred waivers including interest due on the interim funding package for the Araguaia nickel project in northeast Brazil. PROTECTIVE Senior lenders had extended the waivers, originally due on 31 December 2023, to the end of February and have now agreed a new date of 29 March. Horizonte said it was […]
Tag: nickel
Horizonte estimates 87% rise in plant costs
Horizonte Minerals plc has estimated an 87% increase in total costs to complete the Araguaia nickel plant in Brazil. FINANCING The estimated capital required to complete construction of Araguaia Line 1, commission the project and deliver first metal has been revised to approximately US$454 million. The estimate at completion is currently $1 billion, nearly double […]
Corcel starts exploration at Canegrass
Corcel plc has begun initial exploration activities at its 100% owned Canegrass lithium project in Western Australia. TARGETS The company has engaged APEX Geoscience will for one week carry out “first pass ground truthing” to verify interpreted pegmatite swarms delineated from satellite imagery analysis. The programme aims to investigate and confirm lithium and nickel prospectivity of […]
FCM granted exploration permits for North Hemlo-Esa
First Class Metals plc (FCM) has been granted two exploration permits for the company’s North Hemlo and Esa polymetallic properties in the Hemlo area of northwest Ontario. DRILL LOCATIONS The company said it was on target to bring four of its properties to drill-ready status, with the possible exception of Esa, and to drill one […]
Horizonte stockpiles 138,000t ore at Araguaia
Horizonte Minerals plc had stockpiled 138,000 tonnes of ore averaging 1.92% nickel and spent US$429 million as of 30 September at the Araguaia project in Brazil. COSTS The company said it continued to progress during Q3 with construction at the site and advance financing discussions with its cornerstone shareholders and lenders. Horizonte expects a detailed […]
Karelian confirms Irish licences’ prospectivity
Karelian Diamond Resources plc said indicator analyses of stream sampling confirmed nickel, copper and platinum group metals prospectivity at its three Northern Ireland licences. ANOMALOUS The stream sampling followed a 2021 programme which the Dublin-based company said had suggested the potential for the metals. A total 33 follow-up stream sediment samples, each weighing an average […]