Nickel 28

Nickel 28 Capital Corp. (TSXV:NKL) is a Vancouver-based battery metals company specializing in nickel and cobalt production for electric vehicle batteries and energy storage. With interests in Papua New Guinea’s Ramu operation and strategic royalties on Canadian projects, Nickel 28 supports the growing demand for sustainable battery technology.

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Nickel 28 Capital Corp. is a specialized battery metals investment company focusing on nickel and cobalt production. These materials are essential components for electric vehicle batteries and energy storage systems. The company manages a portfolio of producing assets, including an 8.56% joint venture interest in the Ramu Nickel-Cobalt Operation in Papua New Guinea. This stake is expected to increase to 11.3% following loan repayments. Additionally, Nickel 28 holds strategic royalties on significant nickel-cobalt projects in Canada, including the Dumont project in Quebec and the Turnagain project in British Columbia.

Battery Technology

Nickel 28’s involvement in battery technology centers on providing raw materials for lithium-ion battery production. The company’s Ramu operation produces high-grade nickel and cobalt mixed hydroxide precipitate (MHP), which serves as a direct feed material for battery manufacturers. This product is particularly valuable for creating nickel-rich cathode materials used in modern electric vehicle batteries.

The company’s production aligns with current battery chemistry trends, particularly the increasing demand for nickel-rich NMC (Nickel Manganese Cobalt) cathodes. These advanced formulations require higher nickel content to achieve greater energy density and extended range in electric vehicles. Through its Ramu operation, Nickel 28 produces approximately 2,900 tonnes of nickel and 600,000 pounds of cobalt annually, contributing significantly to the battery supply chain.

Recent Projects

In Q3 2024, the Ramu operation achieved notable success, producing 6,880 tonnes of contained nickel in mixed hydroxide precipitate. The operation distributed $11.5 million to Nickel 28, including both cash distribution and debt reduction. The company appointed Cindy Davis as Chief Financial Officer, while Craig Lennon assumed the role of President & CEO on January 1, 2025. As part of executive compensation, the company granted 1,050,000 stock options to Lennon, tied to total shareholder return performance criteria.

Investors

Pelham Investment Partners LP stands as a significant investor in Nickel 28, having acquired additional common shares. The company maintains a public listing on the TSX Venture Exchange, enabling investment access for institutional and retail investors. With 89.4 million shares outstanding and $9.3 million in cash and securities, Nickel 28 presents an investment opportunity in the battery metals sector.