Nickel Mines rises to 1-week high on signing term-sheet for solar project

Pacific Nickel Mines

17/05/2022 04:10

** Shares of Australia's Nickel Mines  NIC.AX  climb as much
as 2.6% to A$1.190, their highest since May 9 
    ** Co signs a binding term-sheet with renewable energy
producer Quantum Power Asia for the implementation of a 220
megawatt peak solar project within co's 80%-owned Hengjaya mine
area  urn:newsml:reuters.com:*:nASXgdH8D
    ** Says co will not be required to contribute any capital
funding for the development of the solar project 
    ** NIC on track for its third day of gains
    ** Stock down 18.9% this year, as of last close, vs a 4.5%
decrease in the benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))