Why Invest?

Excellent investment opportunity that provides for 
strong current cash flows, and direct leverage to a 
recovering nickel and cobalt price environment

Ramu Nickel is one of the lowest cost producers in the 
world – and remains profitable in the current depressed nickel market

Nickel 28 is now structured for minimum G&A costs, to maximize free cash flow

JV ownership optionality with Nickel 28 able to increase its interest to 11.3% once the Ramu construction debt is repaid (or refinanced)

Long term optionality with the ability to increase the 
JV ownership to 20.55% interest in Ramu

A portfolio of several key nickel project royalties, providing for greater long term cash flow when nickel market recovers