[SMM Nickel Market Flash] Alliance Nickel Ends June Quarter With A$2.3M Cash Against ~A$310M NiWest Capex

Published: Jul 28, 2026 09:05

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Alliance Nickel, the ASX-listed developer of the 100%-owned NiWest nickel-cobalt laterite project in Western Australia, closed a non-renounceable entitlement offer in the June 2026 quarter raising about A$2.4 million at A$0.035 a share, with roughly 63% take-up. Cash at 30 June was A$2.3 million and its unsecured loan facility was fully drawn at A$5.20 million, though lenders extended the facilities to 30 June 2027. That sits against a November 2024 DFS capital estimate of about A$310 million, underlining how far the project remains from financing readiness. Near-term spending is directed at vat leach optimisation testwork and groundwater licensing rather than construction. NiWest is underpinned by a JORC resource of 93.4 Mt at 1.04% Ni.

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