On January 8 King acquired 750,000 new shares in the company formerly known as Pure Minerals Limited, for $29,000 in an indirect interest.
This brought the total number of securities held in the indirect interest to 1.75 million shares with another 500,000 shares held in a direct interest.
First batch from pilot plant
The purchase follows the company recently announcing the first batch of nickel-cobalt mixed hydroxide precipitate (MHP) produced at its TECH project pilot plant – a key milestone for the company.
Notably, the pilot plant has demonstrated the company’s DNi ProcessTM flowsheet on New Caledonian ore which is of key interest to potential offtakers.
The company has also signed an agreement seeking to utilise electricity from solar generation and network assets for the Townsville project.