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GME Resources Limited ( (AU:AXN) ) has shared an announcement.
Alliance Nickel Ltd, a company involved in the nickel and cobalt industry, is facing challenges due to the termination of a binding offtake agreement with Stellantis N.V. The termination is attributed to unmet contractual milestones, influenced by difficult nickel market conditions and financing constraints. Despite this setback, Stellantis remains interested in Alliance’s NiWest Nickel-Cobalt Project and is open to renegotiating terms that align with the revised project timeline and market conditions. Alliance is also exploring strategic alternatives, including a potential SPAC transaction for a Nasdaq listing, as it seeks to secure project financing and adapt to market pressures. The company’s management remains optimistic about the long-term prospects for nickel and cobalt.
More about GME Resources Limited
Average Trading Volume: 219,450
Current Market Cap: A$35.05M
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