Tinci joins the share register after cornerstoning the recent $7 million capital raising.
It is a 100% subsidiary of Guangzhou Tinci Materials Technology Co Ltd (SHE: 002709), which has market capitalisation of around $2.2 billion.
The parent company is one of China’s largest lithium-ion battery electrolyte manufacturers and is conducting a feasibility study for the production of high-quality nickel sulphate from nickel sulphide concentrate for the battery industry.
There are also two additional substantial shareholders in Buxiao Yu with a 6.35% stake and Colin Iles with a 5.59% stake.
Last week, Cassini confirmed that OZ Minerals Ltd (ASX:OZL) satisfied the 70% (stage 2) earn-in milestone by contributing a total of $36 million towards the Nebo-Babel pre-feasibility study (PFS) and regional exploration at the West Musgrave Project (WMP).
The WMP in Western Australia is the largest undeveloped nickel-copper project in Australia and the joint venture with OZ Minerals provides a clear pathway to a decision to mine and potential cash flow for Cassini.