REG - Gunsynd PLC - Pacific Nickel – Nickel Project Update

GunsyndAnnouncement

05/04/2023 13:15

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RNS Number : 5146V  Gunsynd PLC  05 April 2023

Gunsynd PLC

("Gunsynd" or the "Company")

Pacific Nickel - Solomon Islands Nickel Project Update

 

Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by its investee
company Pacific Nickel Mines Limited ("Pacific Nickel"), which is listed on
ASX (ASX: PNM), that, further to the Company's announcement of 15 June 2022,
 Glencore International AG ("Glencore") has today provided a Letter of
Commitment confirming receipt of its internal management approvals to execute
an up to US$22m loan facility agreement and amended sales agreement for the
Kolosori Nickel Project (the "Project") subject to the finalisation of legal
documentation and the fulfilment of usual conditions.

The announcement states that the funds raised through these arrangements with
Glencore are expected to be sufficient to meet the pre-production funding
requirements of the Project.

Gunsynd currently holds 2,779,840 shares in Pacific Nickel.

 

The Directors of Gunsynd accept responsibility for this announcement.

 

For further information, please contact:

 Gunsynd plc                   +44 20 7440 0640

 Hamish Harris/ Peter Ruse

 Cairn Financial Advisers LLP  +44 20 7213 0880

 James Caithie / Liam Murray

 Peterhouse Capital Limited    +44 20 7469 0930

 Lucy Williams

 

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or
anticipated future events and anticipated results that are forward-looking in
nature and, as a result, are subject to certain risks and uncertainties, such
as general economic, market and business conditions, competition for qualified
staff, the regulatory process and actions, technical issues, new legislation,
uncertainties resulting from potential delays or changes in plans,
uncertainties resulting from working in a new political jurisdiction,
uncertainties regarding the results of exploration, uncertainties regarding
the timing and granting of prospecting rights, uncertainties regarding the
Company's ability to execute and implement future plans, and the occurrence of
unexpected events.  Actual results achieved may vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors.

 

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