Alliance Nickel secures $4m loan facility from Zeta Resources

Alliance Nickel Limited (ASX: $AXN) has secured an unsecured A$4 million loan facility from Zeta Resources Limited to complete the NiWest Nickel-Cobalt Project (NiWest) Definitive Feasibility Study (DFS), final metallurgical testwork, and working capital. The loan facility includes an interest rate of 10% per annum and a maturity date of 28 October 2024.

Executive Commentary on Loan Facility

Zeta Resources' unsecured loan facility provides competitive financing for Alliance Nickel to progress with the NiWest Project DFS and final metallurgical testing. It also supports the company's working capital as it advances offtake and investment discussions with a potential strategic partner.

Summary of Alliance Nickel's Loan Facility

Alliance Nickel (ASX: $AXN) has secured a significant unsecured A$4 million loan facility from Zeta Resources to complete the NiWest Project Definitive Feasibility Study, final metallurgical testwork, and working capital. The loan facility, with an interest rate of 10% per annum and a maturity date of 28 October 2024, demonstrates Zeta Resources' long-term support for Alliance Nickel's NiWest Project. The company aims to utilize the funds to progress with offtake and investment discussions with a potential strategic partner, furthering its commitment to the electric vehicle revolution. This financing aligns with Alliance Nickel's goal to produce low-cost, high-quality Class 1 nickel and cobalt sulphate for battery manufacturers and automakers in the Electric Vehicle (EV) sector, positioning the company for future growth and success.