Australia's Pacific Nickel Mines rises on project services agreement

Pacific Nickel Mines

29/06/2023 03:37

** Shares of Pacific Nickel Mines Ltd  PNM.AX  rise as much
as 4.4% to A$0.072 - set for best day since June 14, if gains
hold 
    ** Nickel explorer says unit Pacific Nickel Mines Kolosori
Ltd has entered into a project services agreement with a unit of
HBS PNG Pty Ltd
    ** Under the deal, HBS will carry out mining, earthworks,
stockpiling and loading of barges for Kolosori Nickel project on
Isabel Island, Solomon Islands 
    ** Says first mining in project is expected to commence in
October 2023
    ** Shares down 16.9% YTD, as of last close 
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))