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by Will Purcell

The diamond and specialty minerals stocks box score on Thursday was an upbeat 102-65-143 as the TSX Venture Exchange added four points to 595. Christopher Wallace's Nickel 28 Capital Corp. (NKL) rose one cent to 76 cents on 110,000 shares.

Nickel prices are in a funk, but Nickel 28 is eager to receive the latest cash distribution from its Ramu mine joint venture in Papua New Guinea, operated by Metallurgical Corp. of China. This will be the seventh semi-annual payment from the project in which the company holds an 8.56-per-cent interest. This payment is expected to be approximately $4-million (U.S.).

Mr. Wallace, chief executive officer of Nickel 28, is predictably pleased with the coming distribution, although he concedes that the first half of 2024 "was characterized by low nickel and cobalt prices" that limited his company's expected take. Nickel 28 collected $10.4-million (U.S.) from the Ramu mine in fiscal 2024, which ended Jan. 31, 2024. It did better a year earlier, pulling in $22.7-million (U.S.), thanks to healthier nickel prices.

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