Alliance Nickel (ASX:AXN) has secured a 12-month extension on existing unsecured loans totalling $5.2 million to 30 June 2027.
The loans, which were due to mature on 30 June 2026, provide additional funding flexibility while strategic discussions with potential partners continue.
As part of the extension, Alliance has agreed to an interest increase from 12% to 13% per annum to reflect the additional lending period, with interest capitalised until loan maturity.
Managing Director Paul Kopejtka says the extension provides non-dilutive funding as the company advances its flagship NiWest Nickel-Cobalt Project in Western Australia.
“We appreciate the continued support from our lenders in extending these competitive, non-dilutive loans,” Kopejtka says.
“This extension demonstrates strong confidence in our company and the NiWest Project as we continue strategic discussions with multiple potential partners.”
Alliance owns 100% of the NiWest project, which contains one of Australia’s highest grade undeveloped nickel laterite resources.
The project sits adjacent to Glencore’s Murrin Murrin Operations and targets battery manufacturers and automakers in the electric vehicle sector with its planned low-cost production.
The company completed a Definitive Feasibility Study (DFS) in November 2024, which confirmed the technical and economic viability of a heap leach and direct solvent extraction operation for the production of class one nickel and cobalt sulphate.
Alliance Nickel is a critical minerals developer focused on its flagship NiWest Nickel-Cobalt Project in Australia.
Write to Paula Fabe at Mining.com.au
Images: Alliance Nickel
