£500,000 Private Placement
Peak Nickel Limited (PNL or the Company) intend to issue 3,125,000 new shares priced at 16p per share at a pre-money valuation of approximately £7.2 million. The use of proceeds is planned to include:
1,000m diamond drilling programme to quickly demonstrate the scalability of the Rodburn Ni-Cu-Co project (see presentation below)
250km2 airborne geophysical survey to identify new targets for priority acquisition
General working capital
Updated JORC Resource Target and Exploration Model
The 2025 Q1 drill programme is designed to demonstrate a JORC Exploration Target Estimate of 10Mt-20Mt grading 1.0% to 1.9% NiEq. and comprises:
3x shallow holes (<200m) to test continuity around the near-surface North Zone
1x deep hole (400-600m) to test down plunge continuity of high- grade mineralisation in the South Zone – see Section X-Y . Planning and SEPA consents have been received; this will be the deepest hole drilled at Rodburn to date.
Enterprise Investment Scheme Approval
In December 2024, PNL obtained EIS approval for its previous financing, providing individual UK investors the following advantages:
Up to 30% income tax relief
Tax-free growth
Capital gains deferral
Potential for inheritance tax relief
Loss relief on exit
PNL has also applied for EIS approval for the current and future raises, and believes that approval will be granted for all new qualifying investors.