SYDNEY (Yosefardi) – Direct Nickel Limited (DNi) is undertaking a placement to raise funds for future corporate development and has also initiated plans for funding its first commercial plant in Indonesia.
The Company will be undertaking a Private Placement to raise up to AUD 1 million for working capital.
The funds raised will be used to support programs currently underway in Indonesia with partner PT ANTAM (Aneka Tambang), as well as to maintain its Test Plant facilities at CSIRO’s Australian Minerals Research Centre in Perth.
PT ANTAM (Persero) Tbk (ANTM) and Direct Nickel are co-operating to develop nickel laterite deposits and processing plants in Indonesia using the DNi Process. ANTAM and DNi are currently undertaking a Feasibility Study with the aim of developing the first nickel laterite processing plant in Indonesia using the DNi Process.