Announcement • Jul 04
Nickel Industries Limited to Report Q2, 2026 Results on Jul 29, 2026 Nickel Industries Limited announced that they will report Q2, 2026 results on Jul 29, 2026 Announcement • Jun 17
Nickel Industries Limited Announces ENC Project Commissioning Nickel Industries Limited announced that commissioning at the Excelsior Nickel Cobalt HPAL project (ENC) is well underway, with the limonite feed preparation plant receiving first ore in May. In the coming week, the sulphuric acid plant will be ignited and the first of three autoclaves commissioned, after which the ore pipeline infrastructure will transport first slurry between Hengjaya Mine and the ENC Smelter. First ore to the autoclave is expected by early July, with mixed hydroxide precipitate (MHP) from the Smelter anticipated by mid-July. Announcement • Apr 24
Nickel Industries Limited, Annual General Meeting, May 26, 2026 Nickel Industries Limited, Annual General Meeting, May 26, 2026. Location: dla piper australia, level 22, no.1 martin place, sydney, nsw, Australia Announcement • Apr 17
Nickel Industries Limited to Report Q1, 2026 Results on Apr 29, 2026 Nickel Industries Limited announced that they will report Q1, 2026 results at 10:00 AM, AUS Eastern Standard Time on Apr 29, 2026 Announcement • Feb 20
Nickel Industries Limited to Report Fiscal Year 2025 Results on Feb 23, 2026 Nickel Industries Limited announced that they will report fiscal year 2025 results on Feb 23, 2026 Announcement • Jan 19
Nickel Industries Limited to Report Q4, 2025 Results on Jan 29, 2026 Nickel Industries Limited announced that they will report Q4, 2025 results on Jan 29, 2026 Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Emma Hall was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 29
First half 2025 earnings released: EPS: US$0.003 (vs US$0.001 in 1H 2024) First half 2025 results: EPS: US$0.003 (up from US$0.001 in 1H 2024). Revenue: US$829.7m (down 1.6% from 1H 2024). Net income: US$11.3m (up 119% from 1H 2024). Profit margin: 1.4% (up from 0.6% in 1H 2024). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Board Change • Aug 18
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Director Emma Hall was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Aug 11
Nickel Industries Limited to Report First Half, 2025 Results on Aug 28, 2025 Nickel Industries Limited announced that they will report first half, 2025 results on Aug 28, 2025 Announcement • Jul 09
Nickel Industries Limited to Report Q2, 2025 Results on Jul 30, 2025 Nickel Industries Limited announced that they will report Q2, 2025 results on Jul 30, 2025 Announcement • Apr 17
Nickel Industries Limited, Annual General Meeting, May 22, 2025 Nickel Industries Limited, Annual General Meeting, May 22, 2025. Location: at level 5, 1 margaret street, sydney nsw Australia Announcement • Apr 07
Nickel Industries Limited to Report Q3, 2025 Results on Apr 29, 2025 Nickel Industries Limited announced that they will report Q3, 2025 results on Apr 29, 2025 Announcement • Mar 21
Nickel Industries Receives Approval from the Ministry of Mines (ESDM) for Its Techno Economic Feasibility Study Nickel Industries Limited advised that it has received approval from the Ministry of Mines (ESDM) for its techno economic feasibility study (Feasibility Study) to increase the Company's 80%-owned Hengjaya Mine from 9 million wet metric tonnes (wmt) pa in ore sales to 19 million wmt pa. Now that the Feasibility Study has been approved, the Company will shortly submit an environmental impact study (AMDAL), which is the next step to achieve an increased Rencana Kerja dan Anggaran Biaya (RKAB), the triennial work and budget plan for operations. Announcement • Mar 12
Nickel Industries Limited Announces Resignation of Dasa Sutantio as A Non-Executive Director Nickel Industries Limited announced the resignation of Mr. Dasa Sutantio as a Non-Executive Director of the Company, effective 11 March 2025. Announcement • Feb 24
Nickel Industries Limited Declares Dividend for the Period of Six Months Ended December 31, 2024, Payable on March 21, 2025 Nickel Industries Limited declared a dividend for the period of six months ended December 31, 2024, of AUD 0.01500000. Ex Date is February 27, 2025, Record Date is February 28, 2025, and Payment Date is March 21, 2025. Announcement • Feb 21
Nickel Industries Limited to Report Fiscal Year 2024 Results on Feb 24, 2025 Nickel Industries Limited announced that they will report fiscal year 2024 results on Feb 24, 2025 Board Change • Feb 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Emma Hall was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 16
Nickel Industries Limited to Report Q4, 2024 Results on Jan 30, 2025 Nickel Industries Limited announced that they will report Q4, 2024 results on Jan 30, 2025 Board Change • Dec 24
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Emma Hall was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 17
Nickel Industries Limited to Report Q3, 2024 Results on Oct 31, 2024 Nickel Industries Limited announced that they will report Q3, 2024 results on Oct 31, 2024 Reported Earnings • Aug 30
First half 2024 earnings released: EPS: US$0.001 (vs US$0.009 in 1H 2023) First half 2024 results: EPS: US$0.001 (down from US$0.009 in 1H 2023). Revenue: US$843.3m (down 9.5% from 1H 2023). Net income: US$5.14m (down 81% from 1H 2023). Profit margin: 0.6% (down from 2.9% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Aug 21
Nickel Industries Limited to Report First Half, 2024 Results on Aug 29, 2024 Nickel Industries Limited announced that they will report first half, 2024 results on Aug 29, 2024 Buy Or Sell Opportunity • Jul 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 10% to AU$0.79. The fair value is estimated to be AU$1.00, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 47% over the last 3 years. Earnings per share has declined by 17%. For the next 3 years, revenue is forecast to grow by 10% per annum. Earnings are also forecast to grow by 35% per annum over the same time period. Announcement • Jul 18
Nickel Industries Limited to Report Q2, 2024 Results on Jul 31, 2024 Nickel Industries Limited announced that they will report Q2, 2024 results on Jul 31, 2024 Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Emma Hall was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 30
Nickel Industries Limited, Annual General Meeting, May 31, 2024 Nickel Industries Limited, Annual General Meeting, May 31, 2024, at 11:00 E. Australia Standard Time. Location: Level 5, 1 Margaret Street Sydney Sydney New South Wales Australia Agenda: To consider approval of remuneration report; to consider re-election of Dasa Sutantio as a director; to consider re-election of Muliady Sutio as a director; to consider re-election of Haijun wang as a director; to consider re-election of Binghe Xiang as a director; to consider re-election of Yuanyuan xu as a director; and to consider other matters. Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: US$0.036 (vs US$0.059 in FY 2022) Full year 2023 results: EPS: US$0.036 (down from US$0.059 in FY 2022). Revenue: US$1.88b (up 55% from FY 2022). Net income: US$121.6m (down 24% from FY 2022). Profit margin: 6.5% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.0% p.a. on average during the next 2 years, compared to a 1.2% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has fallen by 17% per year whereas the company’s share price has fallen by 18% per year. Announcement • Feb 23
Nickel Industries Limited to Report Fiscal Year 2023 Results on Feb 29, 2024 Nickel Industries Limited announced that they will report fiscal year 2023 results on Feb 29, 2024 Announcement • Jan 30
Nickel Industries Limited Announces Final Dividend for the Fiscal Year 2023, Payable on February 19, 2024 Nickel Industries Limited announced an increased final dividend for 2023 of 2.5 cents per share which is a 25% increase on 2023 interim dividend of 2 cents per share. Record date of February 5,2024,Ex Date of February 2, 2024 and Payment Date of February 19, 2024. Announcement • Jan 05
Nickel Industries Limited Announces Mr. Rob Neale Retires as Chairman As announced on 20 December 2023, Mr. Rob Neale has retired as Chairman of Nickel Industries Limited, effective 31 December 2023. Recent Insider Transactions • Dec 31
MD & Director recently bought AU$502k worth of stock On the 22nd of December, Justin Werner bought around 746k shares on-market at roughly AU$0.67 per share. This transaction amounted to 2.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Justin has been a buyer over the last 12 months, purchasing a net total of AU$2.4m worth in shares. Buying Opportunity • Dec 05
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be AU$0.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 87% over the last year. Earnings per share has declined by 49%. For the next 3 years, revenue is forecast to grow by 9.4% per annum. Earnings is also forecast to grow by 29% per annum over the same time period. Announcement • Nov 08
Nickel Industries Limited Announces Retirement of Mark Lochtenberg as Non-Executive Director Nickel Industries Limited announced the retirement of Mr. Mark Lochtenberg as a Non-Executive Director of the Company. Mr. Lochtenberg joined the Board of the Company in March 2017, prior to the Company's listing on the ASXthe following year. Announcement • Nov 02
Nickel Industries Limited Announces Directorate Changes The Directors of Nickel Industries Limited announced that following the retirement of Mr. Huang as President Director of Shanghai Decent Investment (Group) Co. Ltd. (Shanghai Decent), that he will also be retiring from as a Non-Executive Director of the Company. His position as Non- Executive Director and a representative of Shanghai Decent will be taken by Mr. Wang Haijun. Mr. Wang is also replacing Mr. Huang as President Director of Shanghai Decent. Mr. Huang joined the Board of the Company in April 2018, in the lead up to the Company's listing on the ASX, when the Company and Shanghai Decent signed their initial Collaboration and Subscription Agreement. Since then, he has been an integral part of the growth of the Company and the partnership between the Company and Shanghai Decent. Mr. Wang is well known to the Company. He was the CEO of Shanghai Decent from 2008 until his move to replace Mr. Huang as President Director of Shanghai Decent. He has worked in various senior roles with Tsingshan since 2004, including as CEO of Ruipu Technology Group from 2013 to 2016. He has a Degree from Beijing University of Aeronautics and Astronautics, majoring in Solid Rocket Engines, as well as post graduate degree from the China Academy of Launch Vehicle Technology majoring in Liquid Rocket Engines. Announcement • Oct 16
Nickel Industries Limited to Report Q3, 2023 Results on Oct 31, 2023 Nickel Industries Limited announced that they will report Q3, 2023 results on Oct 31, 2023 New Risk • Sep 25
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (5.7% net profit margin). Reported Earnings • Sep 01
First half 2023 earnings released: EPS: US$0.009 (vs US$0.035 in 1H 2022) First half 2023 results: EPS: US$0.009 (down from US$0.035 in 1H 2022). Revenue: US$932.3m (up 81% from 1H 2022). Net income: US$27.1m (down 71% from 1H 2022). Profit margin: 2.9% (down from 18% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 4 years, compared to a 2.7% growth forecast for the Metals and Mining industry in Australia. Announcement • Aug 18
Nickel Industries Limited to Report First Half, 2023 Results on Aug 31, 2023 Nickel Industries Limited announced that they will report first half, 2023 results on Aug 31, 2023 Announcement • Aug 02
Nickel Industries Limited Announces Dividend for the Six Months Ended June 30, 2023, Payable on August 14, 2023 Nickel Industries Limited announced that dividend of AUD 0.020 per share for the six months ended June 30, 2023. Ex-date is August 3, 2023. Record date is August 4, 2023. Payment date is August 14, 2023. Announcement • Jul 12
Nickel Industries Limited to Report Q2, 2023 Results on Jul 31, 2023 Nickel Industries Limited announced that they will report Q2, 2023 results on Jul 31, 2023 Recent Insider Transactions • Jun 28
Non-Executive Director recently bought AU$304k worth of stock On the 26th of June, Weifeng Huang bought around 350k shares on-market at roughly AU$0.87 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth AU$1.9m. Insiders have collectively bought AU$2.2m more in shares than they have sold in the last 12 months. Announcement • Jun 27
Nickel Industries Limited Announces Oracle Nickel Power Plant Commences Commissioning The Directors of Nickel Industries Limited announced that the Company's 70%-owned Oracle Nickel Project (`Oracle Nickel' or `the Project') has commenced commissioning of its 380MW power plant within the Indonesia Morowali Industrial Park (`IMIP') in Central Sulawesi. While the Project's 4 RKEF lines have been progressively commissioned over the last several months, limited power availability within the IMIP electricity grid has restricted production levels to approximately 80% of nameplate capacity. With the power plant now commissioned, production levels at the Project are expected to steadily increase to approximately 130% of nameplate capacity, in line with the historical outperformance above nameplate capacity of the Company's established RKEF operations. As with the Company's replica Angel Nickel Project within the Indonesia Weda Bay Industrial Park (`IWIP') on Halmahera Island, Oracle Nickel's RKEF lines are expected to benefit from a saving of over 20% on electricity charges, which currently account for approximately 25% of total operating cash costs. Announcement • May 09
Nickel Industries Limited Finalizes Appointment of Xiang Binghe as Non-Executive Director The Directors of Nickel Industries Limited advised that, further to the ASX announcement of 23 December 2022, the appointment of Mr. Xiang Binghe as a Non-Executive Director of the Company has now been finalised. Mr. Xiang has been a key member of the rapid development of Tsingshan since 2000. His previous experience spans many senior roles and operations including head of AOD Department of Zhejiang Tsingshan Special Steel Company Limited, the General Manager of ZhejiangTsingshan Steel Company Limited, the Chairman of Zhejiang Ruipu Machinery Company Limited, the Vice President of Ruipu Technology Group Company Limited, the Chairman of Fujian Dingxin Nickel Company Limited and the Vice Chairman of Tsingtuo Group Company Limited. Mr. Xiang has already played a key role in the development of the Company's RKEF operations, as a Shanghai Decent nominee to the Board of the Company's Indonesian RKEF entities, as well as director of the Company's Singaporean subsidiary holding companies. In his current role as Chairman of Eternal Tsingshan he has successfully led the management, development and operations of the Indonesia Morowali Industrial Park and the Indonesia Weda Bay Industrial Park. Recent Insider Transactions • Apr 07
MD & Director recently bought AU$1.9m worth of stock On the 5th of April, Justin Werner bought around 2m shares on-market at roughly AU$0.90 per share. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Justin's only on-market trade for the last 12 months. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: US$0.059 (vs US$0.055 in FY 2021) Full year 2022 results: EPS: US$0.059 (up from US$0.055 in FY 2021). Revenue: US$1.22b (up 88% from FY 2021). Net income: US$159.0m (up 15% from FY 2021). Profit margin: 13% (down from 21% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 5 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Announcement • Feb 06
Nickel Industries Limited to Report Fiscal Year 2022 Results on Feb 28, 2023 Nickel Industries Limited announced that they will report fiscal year 2022 results on Feb 28, 2023 Announcement • Jan 20
Nickel Industries Limited has completed a Follow-on Equity Offering in the amount of AUD 673.468571 million. Nickel Industries Limited has completed a Follow-on Equity Offering in the amount of AUD 673.468571 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 660,263,305
Price\Range: AUD 1.02
Discount Per Security: AUD 0.0204
Transaction Features: Subsequent Direct Listing Announcement • Jan 19
Nickel Industries Limited (ASX:NIC) acquired 10% stake in Oracle Nickel Project from Shanghai Decent Investment (Group) Co., Ltd. for $75 million. Nickel Industries Limited (ASX:NIC) acquired 10% stake in Oracle Nickel Project from Shanghai Decent Investment (Group) Co., Ltd. for $75 million on January 18, 2023. To fund the Acquired Assets and Acquired Options the Company is undertaking a $471 million capital raise.Completion of the additional 10% interest in Oracle Nickel Project is conditional upon the completion of the HNC acquisition. The majority of the proceeds of the Equity Raise will be put towards acquiring additional 10% interest in Oracle Nickel Project. Announcement • Jan 12
Nickel Industries Limited to Report Q2, 2023 Results on Jan 31, 2023 Nickel Industries Limited announced that they will report Q2, 2023 results on Jan 31, 2023 Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Non-Executive Chairman Rob Neale was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Sep 01
First half 2022 earnings released: EPS: US$0.035 (vs US$0.026 in 1H 2021) First half 2022 results: EPS: US$0.035 (up from US$0.026 in 1H 2021). Revenue: US$515.0m (up 78% from 1H 2021). Net income: US$92.4m (up 42% from 1H 2021). Profit margin: 18% (down from 23% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is expected to shrink by 23% compared to a 87,092% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 14
Nickel Industries Limited to Report Q2, 2022 Results on Jul 28, 2022 Nickel Industries Limited announced that they will report Q2, 2022 results on Jul 28, 2022 Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Non-Executive Chairman Rob Neale was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 20
Nickel Mines Limited to Report Q1, 2022 Results on Apr 28, 2022 Nickel Mines Limited announced that they will report Q1, 2022 results on Apr 28, 2022 Recent Insider Transactions • Mar 12
Non-Executive Director recently bought AU$393k worth of stock On the 10th of March, Weifeng Huang bought around 295k shares on-market at roughly AU$1.33 per share. In the last 3 months, they made an even bigger purchase worth AU$895k. Insiders have collectively bought AU$6.1m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorated over the past week After last week's 24% share price decline to AU$1.23, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Metals and Mining industry in Australia. Total returns to shareholders of 235% over the past three years. Recent Insider Transactions • Mar 04
Non-Executive Director recently bought AU$182k worth of stock On the 1st of March, Weifeng Huang bought around 120k shares on-market at roughly AU$1.52 per share. In the last 3 months, they made an even bigger purchase worth AU$895k. Insiders have collectively bought AU$5.7m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.055 (down from US$0.057 in FY 2020). Revenue: US$645.9m (up 23% from FY 2020). Net income: US$137.9m (up 25% from FY 2020). Profit margin: 21% (in line with FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 47%, compared to a 761% growth forecast for the mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 48% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 22
Nickel Mines Limited to Report Fiscal Year 2021 Results on Feb 23, 2022 Nickel Mines Limited announced that they will report fiscal year 2021 results on Feb 23, 2022 Announcement • Jan 28
Nickel Mines Limited Announces Angel Nickel Project Produces First NPI Nickel Mines Limited announced that the Company's 80%-owned Angel Nickel Project (`Angel Nickel' or `ANI') within the Indonesia Weda Bay Industrial Park (`IWIP') on Halmahera Island, has entered its commissioning phase with the first of its four RKEF lines having commenced nickel pig iron (`NPI') production. This maiden `NPI tap' occurred on 25 January and will see a further accelerated timetable where the Project's other three RKEF lines will be progressively commissioned over the following 60 to 90 days, resulting in all four RKEF lines anticipated to have commenced operations by the end of April 2022. The introduction of ANI will be transformative to the Company's existing operations, more than doubling annual attributable nickel metal nameplate capacity from 24.0kt to 52.8kt with the introduction of the Oracle Nickel Project (`ONI') by First Quarter 2023 set to further increase attributable nickel metal nameplate capacity to 78kt pa. The ANI power plant is scheduled to commence commissioning by the end of September 2022 ahead of the October 2022 contractual delivery date, with the ANI project utilising power from the operating power plants within IWIP in the interim. During this period NPI production from ANI's RKEF lines will run at less than 100% of the 36,000 tonnes of nickel metal production nameplate capacity per annum depending on power availability. Full NPI production capacity is expected to be achieved around one month after the commissioning of the ANI power plant. As with the Company's existing HNI and RNI projects, ANI will require the issuance of an Industrial Business Licence (Izin Usaha Industri) (`IUI') to commence commercial sales of NPI. Any NPI produced ahead of the IUI issuance will be stockpiled (as was the case with initial HNI and RNI sales) however it is presently anticipated ANI's IUI will be in place to allow first commercial sales to be recorded in early Second Quarter 2022. Recent Insider Transactions • Dec 25
Non-Executive Director recently bought AU$895k worth of stock On the 21st of December, Weifeng Huang bought around 675k shares on-market at roughly AU$1.33 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$5.2m more in shares than they have sold in the last 12 months. Announcement • Dec 23
Nickel Mines Limited (ASX:NIC) signed a Conditional Share Purchase Agreement to acquire Tablasufa Nickel Project from Bolt Metals Corp. (CNSX:BOLT) for $8.5 million. Nickel Mines Limited (ASX:NIC) signed a Conditional Share Purchase Agreement to acquire Tablasufa Nickel Project from Bolt Metals Corp. (CNSX:BOLT) for $8.5 million on December 22, 2021. The transaction is subject to completion of satisfactory due diligence, at Nickel Mines absolute discretion, extension of the Tablasufa Production IUP and positive Bolt Metals shareholder approval. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improved over the past week After last week's 18% share price gain to AU$1.28, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Metals and Mining industry in Australia. Total returns to shareholders of 481% over the past three years. Recent Insider Transactions • Oct 09
MD & Director (Leave of Absence) recently bought AU$500k worth of stock On the 7th of October, Justin Werner bought around 556k shares on-market at roughly AU$0.90 per share. This was the largest purchase by an insider in the last 3 months. This was Justin's only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 20% share price gain to US$1.18, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 10x in the Metals and Mining industry in Australia. Total returns to shareholders of 106% over the past year. Recent Insider Transactions • Jul 03
Non-Executive Director recently bought AU$481k worth of stock On the 30th of June, Weifeng Huang bought around 480k shares on-market at roughly AU$1.00 per share. In the last 3 months, there was an even bigger purchase from another insider worth AU$2.3m. Insiders have collectively bought AU$3.8m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Apr 28
Independent Non-Executive Director recently bought AU$2.3m worth of stock On the 27th of April, Mark Lochtenberg bought around 2m shares on-market at roughly AU$1.15 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Analyst Estimate Surprise Post Earnings • Feb 25
Revenue beats expectations Revenue exceeded analyst estimates by 0.4%. Over the next year, revenue is forecast to grow 17%, compared to a 147% growth forecast for the Metals and Mining industry in Australia. Reported Earnings • Feb 25
Full year 2020 earnings released: EPS US$0.057 (vs US$0.069 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: US$523.5m (up 11% from FY 2019). Net income: US$110.6m (down 2.1% from FY 2019). Profit margin: 21% (down from 24% in FY 2019). The decrease in margin was driven by higher expenses. Production and reserves: Nickel Production: 30,618 t Number of mines: 2 (2 in FY 2019) Is New 90 Day High Low • Feb 24
New 90-day high: AU$1.46 The company is up 36% from its price of AU$1.07 on 26 November 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.84 per share. Is New 90 Day High Low • Jan 21
New 90-day high: AU$1.30 The company is up 32% from its price of AU$0.98 on 23 October 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.19 per share. Announcement • Jan 20
Nickel Mines Limited Announces Amendments to RKEF Projects Collaboration Agreements Nickel Mines Limited announced negotiating amendments to the Collaboration Agreements governing the Hengjaya Nickel, Ranger Nickel and Angel Nickel RKEF projects with the Company's partner, Shanghai Decent Investment Group Co., Ltd: A revision to the Hengjaya Nickel and Ranger Nickel offtake pricing methodology for those projects' nickel pig iron production.; A right to acquire an increased 80% equity interest in Angel Nickel (up from 70%).;
A USD 6.0 million discount for an early payment of the second stage acquisition of Angel Nickel. Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improved over the past week After last week's 16% share price gain to US$1.29, the stock is trading at a trailing P/E ratio of 14.3x, up from the previous P/E ratio of 12.3x. This compares to an average P/E of 14x in the Metals and Mining industry in Australia. Total returns to shareholders over the past year are 90%. Is New 90 Day High Low • Jan 06
New 90-day high: AU$1.19 The company is up 58% from its price of AU$0.75 on 09 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 22% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.56 per share. Is New 90 Day High Low • Dec 15
New 90-day high: AU$1.12 The company is up 57% from its price of AU$0.71 on 16 September 2020. The Australian market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$8.53 per share. Valuation Update With 7 Day Price Move • Nov 26
Market bids up stock over the past week After last week's 17% share price gain to US$1.09, the stock is trading at a trailing P/E ratio of 11.5x, up from the previous P/E ratio of 9.8x. This compares to an average P/E of 12x in the Metals and Mining industry in Australia. Total returns to shareholders over the past year are 85%. Is New 90 Day High Low • Nov 20
New 90-day high: AU$1.02 The company is up 59% from its price of AU$0.64 on 21 August 2020. The Australian market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$4.84 per share. Announcement • Oct 16
Nickel Mines Limited (ASX:NIC) signed a memorandum of understanding to acquire 70% in development project in North Maluku from Shanghai Decent Investment (Group) Co., Ltd. for $490 million. Nickel Mines Limited (ASX:NIC) signed a memorandum of understanding to acquire 70% in development project in North Maluku from Shanghai Decent Investment (Group) Co., Ltd. for $490 million on October 16, 2020. As per terms, $210 million is payable at the end of first quarter of 2021 to secure an initial 30% interest and $280 million by the end of fourth quarter of 2021 to secure a further 40% interest. Out of $210 million, $10 million is paid on execution of memorandum of understanding and $20 million upon execution of definitive agreement. This initial $30 million is funded from existing cash reserves with the remaining $460 million to be funded from a combination of cash reserves, debt and equity. The transaction is subject to the execution of a binding definitive agreement and shareholder approval. Is New 90 Day High Low • Oct 13
New 90-day high: AU$0.78 The company is up 27% from its price of AU$0.61 on 15 July 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$2.66 per share. Announcement • Aug 27
PT Harum Energy Tbk (IDX:HRUM) acquired 3.22% stake in Nickel Mines Limited (ASX:NIC) for AUD 34.3 million. PT Harum Energy Tbk (IDX:HRUM) acquired 3.22% stake in Nickel Mines Limited (ASX:NIC) for AUD 34.3 million on May 29, 2020. As per terms, PT Harum Energy Tbk acquired 68.5 million shares of Nickel Mines Limited.
PT Harum Energy Tbk (IDX:HRUM) completed the acquisition of 3.22% stake in Nickel Mines Limited (ASX:NIC) on May 29, 2020. Announcement • Jun 30
Nickel Mines Limited (ASX:NIC) completed the acquisition of additional 20% in Hengjaya Nickel RKEF Project and Ranger Nickel RKEF Project from Shanghai Decent Investment Group Co., Ltd for approximately AUD 230 million. Nickel Mines Limited (ASX:NIC) agreed to acquire additional 20% in Hengjaya Nickel RKEF Project and Ranger Nickel RKEF Project from Shanghai Decent Investment Group Co., Ltd for approximately AUD 230 million on May 19, 2020. The consideration comprises $60 million (AUD 92.2 million) for each 20% in both the projects and $30 million (AUD 46.1 million) for estimated share of undistributed retained earnings of Shanghai Decent Investment Group Co., Ltd. Shanghai Decent Investment Group Co., Ltd currently holds 40% stake in both the projects. Post completion, Nickel Mines Limited will hold 80% stake and Shanghai Decent Investment will hold 20% stake in the projects. The cash consideration payable will be funded from internal cash of AUD 9 million and majority from gross proceeds of an entitlement offer of 462.6 million new shares at AUD 0.5 per share for AUD 231.3 million. The transaction is subject to approval from shareholders of Nickel Mines Limited in meeting due on May 29, 2020. On May 29, 2020, Annual General Meeting of Nickel Mines Limited approved the transaction. The deal is expected to close on June 30, 2020.
Nickel Mines Limited (ASX:NIC) completed the acquisition of additional 20% in Hengjaya Nickel RKEF Project and Ranger Nickel RKEF Project from Shanghai Decent Investment Group Co., Ltd for approximately AUD 230 million on June 30, 2020. 
