ASX listed resources micro-cap Nickel X Limited (ASX: NKL) has seen its shares rise by +35%, after confirming it had executed an exclusive option to acquire 100% of an advanced Nickel and advanced Hard Rock Lithium exploration project, in Central Europe, within proximity to where 27 lithium battery “Gigafactories” are planned for 2030.
On the agreement, NKL Managing Director Matt Gauci Commented:
“We are very excited to have secured the option to acquire, explore and develop the large-scale Ni-Cu-Co mineralisation at Ransko, as well as the highly prospective Otov1 LCT pegmatite, which was historically only mined for Feldspar, which is 1 of the 17 known LCT pegmatites, and where large spodumene crystals, up to 70cm, are reported.
Should we decide to exercise the option, the Company will formalise an existing exploration partnership with Aurum Discovery Limited, a highly respected European based exploration consultancy, with in-country representation, to ensure efficient operations, ongoing stakeholder engagement and progression of the existing EU Funded SEMACRET Project, which aims to promote exploration for Critical Raw Materials in the EU.
It is an unprecedented time for energy transition in Europe with the passing of the EU Critical Raw Materials (CRM) Act and the adoption of the EU Green Deal, transforming the requirement for and funding of, exploration, development and mining of critical minerals. These critical minerals are well demonstrated within both the Ransko and Otov projects.
The projects are exceptionally well located, almost on the doorsteps of 27 lithium battery “Gigafactories” in Europe planned for 2030. Ransko and Otov are within a c.500km radius of these Gigafactories and there is also potential for Volkswagen (VW) (and Czech based subsidiary Skoda Auto) to build a Gigafactory within the Czech Republic”.
Contact details:
David Tasker
Chapter One Advisors
E: dtasker@chapteroneadvisors.com.au
T: +61 433 112 936
