Nickel 28 Announces Increase in Ramu Mineral Resources and Mineral Reserves
Original announcement by tmx on
- Company
- Nickel 28 Capital Corp.
- Ticker
- NKL
- Exchange
- TSX
- Region
- Papua New Guinea
- Primary commodity
- Nickel
- Secondary commodities
- Cobalt
- Document categories
- Resource update
- Extracted
- 2026-08-22 03:39:19 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Nickel 28 has announced an increase in the Ramu mineral resources and reserves following successful exploration drilling in 2024. The update shows a 10% increase in total reserves and significant growth in both Measured & Indicated and Inferred resource categories.
Reasoning: Significant increases in both mineral resources (18% M&I, 146% Inferred) and mineral reserves (10%) driven by successful 2024 exploration drilling.
Positive factors
- Tonnage growth in M&I and Inferred categories
- Reserve growth
- JORC compliant reporting
- Exploration success driving expansion
Negative factors
- Not prepared to NI 43-101 standards directly (based on operator's JORC report)
Facts used in scoring: 10
Classification and evidence
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The updated mineral resources and reserves were prepared according to the guidelines of the JORC Code.
Evidence · text
“prepared according to the guidelines of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves ( "JORC" or the " JORC Code")”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Total reserves increased by 10% year-over-year.
Evidence · text
“10% increase in total reserves year-over-year”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The report was prepared by Nanjing Center, China Geological Survey, which is the operator's Competent Person.
Evidence · text
“prepared by Nanjing Center, China Geological Survey, " Nanjing ", which is MCC's Competent Person”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: The cut-off grade of 0.5% Ni is explicitly stated in the table notes.
Evidence · text
“Mineral resources at a cut off of 0.5% Ni”
Extracted facts
Stored fact records: 10. Some facts used in scoring do not have a stored record.
Resource Estimates (10)
measurednickelTonnes: 111000000Grade: 0.92Grade Unit: %View all detailsHide details
Identity
- Commodity
- nickel
- Ticker
- NKL
Resource Data
- Category
- measured
- Tonnes
- 111000000
- Grade
- 0.92
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Measured nickel resource of 111 Mt at 0.92% Ni.
Positive factors
- Measured category growth
Evidence · table
“0.92”
Context: 111
measuredcobaltTonnes: 111000000Grade: 0.09Grade Unit: %View all detailsHide details
Identity
- Commodity
- cobalt
- Ticker
- NKL
Resource Data
- Category
- measured
- Tonnes
- 111000000
- Grade
- 0.09
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Measured cobalt resource of 111 Mt at 0.09% Co.
Evidence · table
“0.09”
Context: 111
indicatednickelTonnes: 66000000Grade: 0.82Grade Unit: %View all detailsHide details
Identity
- Commodity
- nickel
- Ticker
- NKL
Resource Data
- Category
- indicated
- Tonnes
- 66000000
- Grade
- 0.82
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Indicated nickel resource of 66 Mt at 0.82% Ni.
Positive factors
- Indicated category growth
Evidence · table
“0.82”
Context: 66
indicatedcobaltTonnes: 66000000Grade: 0.08Grade Unit: %View all detailsHide details
Identity
- Commodity
- cobalt
- Ticker
- NKL
Resource Data
- Category
- indicated
- Tonnes
- 66000000
- Grade
- 0.08
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Indicated cobalt resource of 66 Mt at 0.08% Co.
Evidence · table
“0.08”
Context: 66
inferrednickelTonnes: 37000000Grade: 0.88Grade Unit: %View all detailsHide details
Identity
- Commodity
- nickel
- Ticker
- NKL
Resource Data
- Category
- inferred
- Tonnes
- 37000000
- Grade
- 0.88
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Inferred nickel resource of 37 Mt at 0.88% Ni.
Positive factors
- Massive increase in Inferred tonnage
Evidence · table
“0.88”
Context: 37
inferredcobaltTonnes: 37000000Grade: 0.08Grade Unit: %View all detailsHide details
Identity
- Commodity
- cobalt
- Ticker
- NKL
Resource Data
- Category
- inferred
- Tonnes
- 37000000
- Grade
- 0.08
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Inferred cobalt resource of 37 Mt at 0.08% Co.
Evidence · table
“0.08”
Context: 37
provennickelTonnes: 66000000Grade: 0.8Grade Unit: %View all detailsHide details
Identity
- Commodity
- nickel
- Ticker
- NKL
Resource Data
- Category
- proven
- Tonnes
- 66000000
- Grade
- 0.8
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Proven nickel reserve of 66 Mt at 0.8% Ni.
Positive factors
- Reserve growth
Evidence · table
“0.8”
Context: 66
provencobaltTonnes: 66000000Grade: 0.09Grade Unit: %View all detailsHide details
Identity
- Commodity
- cobalt
- Ticker
- NKL
Resource Data
- Category
- proven
- Tonnes
- 66000000
- Grade
- 0.09
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Proven cobalt reserve of 66 Mt at 0.09% Co.
Evidence · table
“0.09”
Context: 66
probablenickelTonnes: 10000000Grade: 0.91Grade Unit: %View all detailsHide details
Identity
- Commodity
- nickel
- Ticker
- NKL
Resource Data
- Category
- probable
- Tonnes
- 10000000
- Grade
- 0.91
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Probable nickel reserve of 10 Mt at 0.91% Ni.
Evidence · table
“0.91”
Context: 10
probablecobaltTonnes: 10000000Grade: 0.09Grade Unit: %View all detailsHide details
Identity
- Commodity
- cobalt
- Ticker
- NKL
Resource Data
- Category
- probable
- Tonnes
- 10000000
- Grade
- 0.09
- Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-06-02T00:00:00.000Z
Reasoning: Probable cobalt reserve of 10 Mt at 0.09% Co.
Evidence · table
“0.09”
Context: 10
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.