Nickel Mines, Inc. 's two Nickel projects in Indonesia produced 11,401 tons of Nickel in the fourth quarter of 2020, generating record underlying earnings of $71.6 million and net profit of $67.8 million.
Nickel Nickel, a Chinese-backed mining company, owns 80 per cent of both projects.
At the end of the quarter, cash, accounts receivable and inventories were $518 million, of which cash was $351.4 million.
Nickel Nickel Mines, listed on the Australian Stock Exchange, completed a $275 million financing in the third quarter of 2020, primarily for the development of a new nickel mine project in Indonesia.
The project will increase Nickel Mining Company's nickel production from 24,000 tons/year (Ranger and Hengjaya) to 52,000 tons/year (the new addition to Angel).
Nickel Nickel Mines had more than A $3.3 billion in capital this week.
In the fourth quarter of 2020, the Company repaid $22.5 million of its $45 million debt and expects to repay the balance no later than February 2021.
Nickel Nickel said the repayment would provide the "best platform" for future debt negotiations, with angel investments expected to total $560m.
Nickel Nickel Mining rose 3 per cent to A $1.33 in early trading, capitalising the company at $3.35bn.
Twelve months ago, Nickel Minerals was trading at around 60 cents.
PUDA nickel packing machine:
As we all know packing machines are totally customized, pls offer us some more details as follows:
1.What is your packing material and its bulk density, granularity, air content and water content ?
2. What is your bag's material and size, is it open mouth bag or valve bag? Pls send us the photo.
3.How many kg per bag ?
4.How many bags per hour ?
5.What is your packing precision per bag ?
6.what is the height of your workshop ?
7.what is your voltage and HZ?
