Northwire Canada EditionFriday, November 13, 2026
Sign inSubscribe
Northwire
⌕
Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 992.00 −5.2% SEA 35.00 −3.2% GLO 0.300 −6.2% WM 1.42 −2.1% MFG 3.25 −4.7% RAGE 0.295 +0.0% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2% Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 992.00 −5.2% SEA 35.00 −3.2% GLO 0.300 −6.2% WM 1.42 −2.1% MFG 3.25 −4.7% RAGE 0.295 +0.0% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2%
Other

Nickel 28 Announces Proposed Normal Course Issuer Bid

Nickel 28 Deploys Excess Cash for 8% Share Buyback as Ramu Operation Stabilizes Post-Technical Failures

By The Northwire Desk — AI Analysis Jan 07, 2026 · 07:01 NKL · 0.935 Nickel 28 Capital Corp.
Executive Summary

On January 7, 2026, Nickel 28 announced a proposed Normal Course Issuer Bid (NCIB). The company intends to repurchase and cancel up to 7,050,819 common shares over a 12-month period, representing approximately 8.1% of its issued and outstanding shares. The buyback will be conducted through Haywood Securities Inc. on the open market. CEO Craig Lennon stated that the shares trade at a "substantial discount" to the company's net asset value (NAV) and that using excess liquidity for this purpose is accretive to remaining shareholders.

Material Impact

The impact is Material - Positive for the following reasons: - Shareholder Accretion: An 8.1% reduction in share count is a significant capital return initiative for a micro-cap company. If the company’s assessment of its NAV is accurate, buying shares at $0.94 provides a higher internal rate of return than other available cash deployments. - Liquidity Utilization: The company reported a cash balance of $9.5 million as of October 31, 2025. Repurchasing 7 million shares at current prices would require approximately $6.6 million. This indicates management is confident that the Ramu Nickel Mine’s distributions will continue to cover corporate overhead and debt servicing. - Market Signal: This follows a previous year where the company repurchased approximately 3.46 million shares. The expansion of the buyback program suggests a pivot from legal defense and internal turmoil toward capital management.

NKL · Price
Company Overview

Nickel 28 is a base metals streaming and royalty company. Its flagship asset is an 8.56% joint-venture interest in the Ramu Nickel-Cobalt Operation in Papua New Guinea, operated by Metallurgical Corp. of China (MCC). Ramu is a long-life, low-cost HPAL (High-Pressure Acid Leach) operation. The company also holds a portfolio of royalties on several nickel-cobalt projects, including the Dumont (1.75% NSR) and Turnagain (2.0% NSR) projects.

Read the original news release →

More from Nickel 28 Capital Corp.

Oct 15, 2026 · 07:01

Ramu paid out US$12.6 million but flagged weaker second-half cash generation.

Earnings Sep 21, 2026 · 07:01

Nickel 28 reported a Q2 profit of US$2.8M, with sulphur driving costs to US$4.81/lb and prompting a margin warning for the second half.

Earnings Sep 14, 2026 · 07:01

Nickel 28 reports regulatory and exploration milestones across four key projects in its latest royalty portfolio update.

Production / Operations Aug 10, 2026 · 07:01

Nickel 28 reports Ramu Q2 costs of $4.81/lb driven by sulphur, while strong metal prices buffer margins and full-year guidance remains intact.

Production / Operations Jun 29, 2026 · 09:06

Nickel 28 Files Fiscal Q1 2027 Financial Statements

Earnings Jun 10, 2026 · 07:01

Nickel 28 reported expanded Q1 margins driven by lower costs and higher cobalt prices, though Phase II dilution remains a concern.

Production / Operations