# Nickel 28 Announces Increase in Ramu Mineral Resources and Mineral Reserves

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769

Original source: https://money.tmx.com/en/quote/NKL/news/7526293969251998/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves

Publisher: tmx

Original announcement: 2025-06-02T11:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- 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

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas 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 factor: Tonnage growth in M&I and Inferred categories

- Positive factor: Reserve growth

- Positive factor: JORC compliant reporting

- Positive factor: Exploration success driving expansion

- Negative factor: Not prepared to NI 43-101 standards directly \(based on operator's JORC report\)

Facts used in scoring: 10

## Classification and evidence

**JORC Compliant**

Polarity: positive

Definition: 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 Growth**

Polarity: positive

Definition: 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 Signed**

Polarity: positive

Definition: 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 Disclosed**

Polarity: positive

Definition: 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)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-0)

nickel

#### 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 factor: Measured category growth

Evidence · table

> 0.92

Context: 111

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-1)

cobalt

#### 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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-2)

nickel

#### 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 factor: Indicated category growth

Evidence · table

> 0.82

Context: 66

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-3)

cobalt

#### 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

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-4)

nickel

#### 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 factor: Massive increase in Inferred tonnage

Evidence · table

> 0.88

Context: 37

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-5)

cobalt

#### 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

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-6)

nickel

#### 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 factor: Reserve growth

Evidence · table

> 0.8

Context: 66

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-7)

cobalt

#### 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

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-8)

nickel

#### 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

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/nickel-28-announces-increase-in-ramu-mineral-resources-and-mineral-reserves--9ad1f70b-f454-451f-82b1-4f1fed0f7769#fact-resource-facts-9)

cobalt

#### 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.