Alliance Nickel Ltd provides update on NiWest Project activities in March 2024 quarter

Alliance Nickel Ltd (ASX: $AXN) has reported progress on its NiWest Project in the March 2024 quarter. The company signed a non-binding term sheet with Samsung SDI for the offtake of battery-grade nickel and cobalt sulphate products. The NiWest Definitive Feasibility Study (DFS) is expected to be completed in Q3 2024, with adjustments made to the proposed operating strategy to reduce the operating cost per pound of nickel extracted and processed. The company engaged mining sector contractors for the NiWest Project through a Request for Quotation (RFQ) process, receiving positive feedback and selecting the most competitive proposal to proceed into the DFS. Additionally, the company continued to engage with global acid plant vendors and made progress in sulphur supply and logistics, hydrogeology, and calcrete exploration.

Executive Commentary on NiWest Project Progress

The results of the metallurgical column testwork program are promising, indicating higher heap heights, shorter leach times, and increased nickel recovery. The signing of a non-binding term sheet with Samsung SDI for the offtake of battery-grade nickel and cobalt sulphate products is a significant step towards commercialization. The engagement with global automobile and Electric Vehicle (EV) supply chain markets, as well as the appointment of Klervi Ménahèze from Stellantis as Non-Executive Director, demonstrates our commitment to strategic partnerships and product qualification. The progress made in hydrogeology, calcrete exploration, and environmental approvals reflects our dedication to sustainable and responsible mining practices.

Summary of NiWest Project Update

Alliance Nickel Ltd made significant strides in the development of the NiWest Project during the March 2024 quarter. The company's focus on commercial partnerships, strategic alliances, and product qualification demonstrates its commitment to becoming a leading supplier of battery-grade nickel and cobalt sulphate. The progress in metallurgical testwork, engagement with global partners, and advancements in logistics and environmental approvals position the company for future growth and success. With the completion of the NiWest DFS expected in Q3 2024, Alliance Nickel Ltd remains dedicated to delivering high-quality, IRA-compliant nickel and cobalt sulphate products for the growing electric vehicle market.