Atlantic Nickel, a unit of Appian Capital Advisory, a London-based investment adviser, has in recent days hired a number of investment banks with plans to sell options.
Its sales process with Citibank and Standard Chartered is the most advanced and potential buyers are now in the first round of bidding, according to people involved.
Separately, Atlantic Nickel's meetings with RBC Capital Markets and Bank of Montreal (BOM) focused on a possible Toronto listing.
Atlantic Nickel has produced a total of 13,900 tonnes of Nickel since the resumption of open pit mining at the Santa Rita mine in August 2019, producing 3,600 tonnes in the first quarter of 2021 with a Nickel recovery rate of 79.3%.
The first three shipments of concentrate consisted of shipments exported from Port Elius on April 1, 2021, achieving revenue of US $62.7 million at an average nickel price of US $7.85 / lb.
Nickel concentrate capacity is 140,000 tons in 2020, and its assets in the Brazilian state of Bahia are worth more than US $500 million.
One person familiar with the process put the value of Atlantic Nickel at more than $1bn.
