Primary ticker: ASX:NIS
Stage of development: Exploration
Primary minerals: Nickel
Project to promote:Carlingup Nickel Sulphide Project
Project location: Australia

NickelSearch Limited (ASX code: NIS) is a dedicated nickel sulphide explorer focused on advancing its flagship Carlingup Nickel Project in Western Australia.

The Project has an existing resource base totaling 171kt contained nickel and is strategically located in the same greenstone corridor as IGO’s Forrestania nickel mining complex, and adjacent to First Quantum Minerals’ Ravensthorpe Nickel Operation.

Cash: AUD $4.6M as at 30 June 2022

Major shareholders:
Medallion Metals Limited – 15%
Sprott – 6.4%
Saunders & Associates <Ellis Disc A/C> – 5.2%
Marana Kyrios Pty Ltd <Lipple Discretionary A/C> – 3.5%
Sundew WA Pty Ltd <Geoscience Super Fund A/C> – 2.53%
Board and Management – 6.9%

Management Profile

Nicole Duncan – Managing Director

Nicole is an experienced resources industry executive, most recently as a founding member of the Executive Lead Team of South32 following an extensive career with BHP.

Nicole has over 20 years of experience in mining, including exploration, project development and execution, technology and corporate transactions.

Tamsin Senders –  Processing Manager

Tamsin is a bacterial leaching specialist with 27 years experience in specialist processing roles across the resources industry.

Tamsin is one of Australia’s leading scientists in bacterial oxidation and leaching. Most recently consultant to nickel producer Western Areas (ASX:WSA). Co-developer and patent holder of the WSA BioHeapTM Bacterial heap leach process.

What is your rationale for taking part in 121 Mining Investment?

NickelSearch is looking to build long term relationships with investors who are keen to participate in the energy transition. NickelSearch is focused on creating shareholder value through discovery of high-grade nickel sulphide, and also processing low-grade nickel sulphide through ore sorting and bacterial heap leaching.

What recent news would you like to highlight to investors attending?

18 October – Drilling Commences on Nickel Sulphide Targets
5 October – Investor Presentation – Australian Nickel Conference
21 September – Additional High Priority Greenfield Targets Defined

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Drill greenfield targets, looking for high grade nickel sulphides
Progress column leaching in preparation for Scoping Study early CY23

6 Months:

Continue drilling greenfield targets, looking for high grade nickel sulphides
Complete Scoping Study
Progressing test work

12 Months:
Ongoing greenfield target study work – leading to discovery!
Commence pre-feasibility, dependent on positive scoping study
Progressing test work towards a pilot leach

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Greenfield exploration takes methodical work and patience, plus a bit of luck! And the study work needed for our processing will also take some time, so for NickelSearch, it is about having the right people in the team, doing our planning well, being transparent and consistently stick to our plan (but also sufficiently agile to respond to new information).

What do you think makes your company such a compelling investment?

We are at the start of our exploration and our processing study work, so it is a great time to join!

What are the top 3 key investor takeaways?

We represent great value in terms of investment dollar, we are in a prime nickel location, and we have the fundamentals in place to deliver.