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Alliance Nickel Limited (ASX:AXN)

ALERT: Price-sensitive ASX Announcement for AXN
Current share price for AXN : $0.025 -0.015 (-37.50%)+
Announcement
Release
27 Apr 2026 8:22AM
Price at Release
$0.040
Full Release
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Summary
Alliance Nickel Limited presented its quarterly report highlighting ongoing developments and financials for the NiWest Nickel-Cobalt Project. The NiWest project, with a significant nickel laterite resource, aims to produce high-purity nickel and cobalt sulfates for the EV market. A capital cost optimisation program is in progress, focusing on vat leaching to reduce water infrastructure costs. The company is raising funds through an entitlement offer, while exploration at the Australia United tenement indicates promising gold mineralization. As of the quarter-end, cash reserves stand at A$646,000, and the project remains economically viable as per its Definitive Feasibility Study.
Key Points
  • Alliance Nickel Limited is targeting high purity nickel and cobalt sulfate production for the EV market from its NiWest project.
  • The NiWest project contains a significant undeveloped nickel laterite resource in Australia and has been awarded Major Project Status.
  • A capital cost optimisation program for the NiWest Project is underway, considering vat leaching to reduce water infrastructure costs.
  • The company announced a non-renounceable entitlement offer to raise approximately A$4.15 million.
  • Exploration results from the Australia United tenement showed potential for significant gold mineralization.
  • Cash and cash equivalents at the end of the quarter were A$646,000.
  • The NiWest Project's Definitive Feasibility Study confirms technical and economic feasibility with robust project economics.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.