Nickel Mines Limited (ASX: NIC) has completed the acquisition of a further 20% interest in Oracle Nickel. With this, the Company now holds 30% interest in the project.
The Company secured its increased interest in ONI after issuing Shanghai Decent 108,122,223 ordinary shares in the Company at A$1.37 per share. Shanghai Decent is the collaboration partner and largest shareholder Nickel Mines.
The Conditional Placement to Shanghai Decent was conditional on Shareholder consent which was received at the Company’s EGM on 3 May 2022 and Foreign Investment Review Board approval which was received on 27 April 2022.
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