Pacific Nickel Mines gains on loan agreement for Solomon Islands project

Pacific Nickel Mines

05/04/2023 03:33

** Shares of Pacific Nickel Mines Ltd  PNM.AX  rise as much
as 17.8% to A$0.086, their highest since Feb. 2
    ** Nickel explorer says Switzerland-based Glencore
International AG provided co a letter of commitment to execute
an up to $22 mln loan facility agreement
    ** Co says funds raised are expected to be sufficient to
meet pre-production funding requirements for its Kolosori Nickel
Project in Solomon Islands
    ** Stock set for best day since March 14, if trend holds
    ** Stock down 25% YTD, as of last close

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))