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Nickel 28 Files Fiscal Q3 2026 Financial Statements
Toronto, Ontario--(Newsfile Corp. - December 19, 2025) - Nickel 28 Capital Corp. ( TSXV: NKL...
About this update from Nickel 28 Capital Corp
[{"type":"text","content":"Nickel 28 Files Fiscal Q3 2026 Financial StatementsToronto, Ontario--(Newsfile Corp. - December 19, 2025) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) (\"Nickel 28\" or the \"Company\") has released its results for the quarter ended October 31, 2025. Quarterly HighlightsKey financial and operating highlights from the Company's third financial quarter ended October 31, 2025, and the operations of the Company's principal asset, an 8.56% joint-venture interest in the Ramu Nickel-Cobalt integrated operation in Papua New Guinea (\"Ramu\"), include the following:Production of 9,242 tonnes of contained nickel and 887 tonnes of contained cobalt in mixed hydroxide precipitate (\"MHP\") during the third calendar quarter.Sales of 9,880 tonnes of contained nickel and 948 tonnes of contained cobalt in MHP during the third calendar quarter.Average production costs for the third calendar quarter, net of by-product sales, of US$3.07/lb of contained nickel.Share of operating profit from Ramu Nickel Mine of US$1.4 million during the third calendar quarter.Total net and comprehensive profit of US$0.6 million (US$0.01/share) for the three months ended October 31, 2025.Financial quarter end cash balance of US$9.5 million.Total non-recourse construction debt of US$35.4 million as at October 31, 2025.Craig Lennon, the Company's Chief Executive Officer stated: \"The third quarter of calendar year 2025 was interruption free in terms of planned shutdowns and scheduled maintenance, and as a result the project had strong production, sales tonnages, and financial results. Calendar Q4 2025 is expected to produce similar results as calendar Q3 2025, and this should lead to an improved result in terms of loan repayment and cash distribution for the second half of 2025 compared to the first half of 2025. Financially, we have ended the quarter with an improved cash balance of US$9.5 million and while our corporate costs were assisted by insurance reimbursements for the Company's legal costs to defend former management claims, our corporate costs are well within our targeted and budgeted levels excluding these reimbursements. Net overheads are under US$2.5 million for the year ended January 31, 2026, excluding any costs associated with legal claims and other one-time transaction costs - categories of expense which we cannot reasonably forecast.In t...