Helix Resources Ltd (ASX:HLX) chair Mike Rosenstreich tells Proactive the company has executed an option agreement with Alchemy Resources to consolidate its nickel-cobalt assets in New South Wales under 100%-owned subsidiary Ionick Metals Ltd ahead of the latter’s planned spinout. The agreement sees Helix acquiring 80% of Alchemy’s interest in the West Lynn Nickel Laterite Project, an advanced project south of Nyngan in central NSW with an inferred mineral resource estimate (MRE) of 180,000 tonnes of nickel and 11,000 tonnes of cobalt. This acquisition has almost doubled Ionick’s resource inventory to around 40 million tonnes and is key to securing external funding for its laterite nickel and cobalt business.
Helix Resources talks Ionick Metals and IPO plans
