Pure Minerals showing signs of life in the last week after it announced last Monday that it has entered into a binding option agreement to acquire 100% of the issued capital of Queensland Pacific Metals Pty Ltd (QPM), an emerging battery metals company focussed on the production of nickel sulphate and cobalt sulphate for the global battery industry.
Then today PM1 announced that it has entered into a framework agreement with Direct Nickel Projects Pty Ltd (DNP). DNP owns the intellectual property related to the DNi Process™, which uses nitric acid to digest, at atmospheric pressure, a range of minerals found in lateritic ores. QPM plans to utilise the DNi Process™ to extract nickel and cobalt from its imported high grade New Caledonian ore to produce nickel sulphate and cobalt sulphate for the emerging EV battery market.
Volume is up and the share price is heading in the right direction. The beginning of a long awaited change in direction for PM1?
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