Building a portfolio of Battery Grade Ni-Cu-Co-PGM assets
Premium Nickel Resources Botswana (“PNRB”) a wholly owned subsidiary of PNRL and is a Botswana registered company that will lead the operation of the Botswana assets. Our long-term strategy includes disciplined cost controls to ensure profitable operations and maintained stakeholder benefits for the full life of the operations.
PNRB’s strategy is to act as a mechanism of growth in the creation of a strong economy within Botswana, with a purpose where respect and trust are core to every single step that will be taken. Our success will mean following international best-in-class practices for the protection of Botswana’s environment and the focus on its people, building partnerships and earning respect, through cooperation and collaboration. We are committed to Governance through transparent accountability and open communication within our team and with all our stakeholders.
The PNRB transactions encompass two fully permitted, past-producing Ni-Cu-Co-PGE Mine re-development projects; former BCL Selebi Mine (Selebi Main and Selebi North deposits), as well as the former Tati Nickel Mining Company (TNMC) Selkirk Mine.
History
We began our initial due diligence on the former producing BCL Mines in Selebi-Phikwe, and the Tati Nickel Mining Company (formerly operated by LionOre) Phoenix and Selkirk Mines east of Francistown, in December 2019. On June 30, 2020, PNRL submitted an Indicative Offer (“IO”) to the BCL Liquidator to acquire the prospective Ni-Cu-Co assets in Botswana. In February of 2021, PNRL was selected as the preferred bidder and awarded exclusivity on all assets under liquidation. On March 24, 2021, PNRL began a 6-month exclusivity period to carry out further due diligence and related purchase agreements. During this time, we were able to analyze resource and infrastructure potential best suited to our business model and build valuable stakeholder relationships to fully understand the regional affect of the prospect.
On September 28, 2021, PNRL executed a binding Asset Purchase Agreement (“APA”) for the previously producing Selebi Mine. The Selebi APA closed on January 31, 2022, marking the transition of ownership of the mine and select related infrastructure to PNRL. Immediately following the closing of the Selebi Mine transaction, PNRL initiated the first Study Phase which is expected to take ~18-24 months to advance the Tsholofelo Project to a Pre-Feasibility level: recharacterize the assets, increase the resources and extend the mine life.
Separately, PNRL has executed an APA for the Selkirk Mine, 100km to the north, nearing Francistown. The APA for the Ni-Cu-Co-PGE Selkirk Mine, together with associated infrastructure and four surrounding prospecting licenses closed on August 22, 2022.
