Australia's Pacific Nickel Mines gains on development consent for nickel project

Pacific Nickel Mines

20/12/2021 03:56

** Shares of Australia-based Pacific Nickel Mines Ltd
 PNM.AX  rise as much as 3.8% to A$0.083
    ** The nickel explorer, which has assets in the Solomon
Islands, says that it received development consent for Kolosori
Nickel Project from Environment and Conservation Division of the
Solomon Islands Ministry of Environment  urn:newsml:reuters.com:*:nASX5pFvfj
    ** Adds that development consent is key in obtaining a
mining lease for the project which it forecasts to be granted
early next year
    ** The Kolosori Nickel Project is 80% owned by co and is
located on Isabel Island, Solomon Islands
    ** More than 1.1 mln shares change hands, compared with the
30-day average volume of about 435,000
    ** Stock has risen 66.7%% this year as of last close
    

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))