Pacific Nickel - Nickel Project Update

RNS Number : 5146V

Gunsynd PLC

05 April 2023

 

Gunsynd PLC

("Gunsynd" or the "Company")

Pacific Nickel - Solomon Islands Nickel Project Update

Gunsynd Plc (AIM: GUN, AQSE: GUN) notes the announcement by its investee company Pacific Nickel Mines Limited ("Pacific Nickel"), which is listed on ASX (ASX: PNM), that, further to the Company's announcement of 15 June 2022,  Glencore International AG ("Glencore") has today provided a Letter of Commitment confirming receipt of its internal management approvals to execute an up to US$22m loan facility agreement and amended sales agreement for the Kolosori Nickel Project (the "Project") subject to the finalisation of legal documentation and the fulfilment of usual conditions.

The announcement states that the funds raised through these arrangements with Glencore are expected to be sufficient to meet the pre-production funding requirements of the Project.

Gunsynd currently holds 2,779,840 shares in Pacific Nickel.

The Directors of Gunsynd accept responsibility for this announcement.  

For further information, please contact:

Gunsynd plc Hamish Harris/ Peter Ruse	[phone]
Cairn Financial Advisers LLP James Caithie / Liam Murray	[phone]
Peterhouse Capital Limited Lucy Williams	[phone]

Forward Looking Statements

This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events.  Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.

 

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