UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2023
Commission File Number: 000-14740
Premium Nickel Resources Ltd.
(Translation of registrant's name into English)
130 Spadina Avenue, Suite 401
Toronto, Ontario, M5V 2L4
Canada
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40- F.
☒ Form 20-F ☐ Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Premium Nickel Resources Ltd. (Registrant) |
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Date: August 29, 2023 | By: | /s/ Sarah Zhu |
Name: | Sarah Zhu | |
Title: | Chief Financial Officer |
Form 6-K Exhibit Index
Exhibit Number |
Document Description | |
99.1 | News Release dated August 29, 2023 |
PREMIUM NICKEL RESOURCES LTD. ANNOUNCES FILING OF
Q2 2023 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
Toronto, Ontario, August 29, 2023 - Premium Nickel Resources Ltd. (TSXV: PNRL) ("PNRL" or the "Company") announces today that the Company's unaudited interim financial statements and related management's discussion and analysis ("MD&A") for the three and six months ended June 30, 2023 have been filed on SEDAR+ (www.sedarplus.ca) and are available on the Company's website at http://www.premiumnickel.ca.
Selected Financial Information
The following amounts are derived from the Company's unaudited condensed interim consolidated financial statements prepared under IFRS.
In Canadian dollars, except per share amounts | ||||||
June 30, 2023 |
June 30, 2022 | |||||
Net profit (loss) | (5,677,602 | ) | (24,235,060 | ) | ||
Basic profit (loss) per share | (0.05 | ) | (0.30 | ) | ||
Dividends declared | - | - | ||||
Share capital | 111,457,672 | 28,389,799 | ||||
Common shares issued | 135,730,527 | 85,616,075 | ||||
Weighted average shares outstanding | 119,773,438 | 80,708,849 | ||||
Total assets | 65,641,778 | 24,661,359 | ||||
Non-current financial liabilities | 17,832,127 | 28,410,545 | ||||
Investment in exploration and evaluation assets | 39,583,472 | 17,282,590 |
Recent highlights include:
About Premium Nickel Resources Ltd.
PNRL is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines owned by the Company in the Republic of Botswana. We are driven by our belief that the demand for these metals will continue to grow in the medium to long term, as a result of global urbanization and the increasing adoption of electric motors over internal combustion engines. These metals are vital for achieving a low-carbon future.
PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our skilled team has worked over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re-engineering experience on projects like the Company's Selebi and Selkirk mines. PNRL's senior team members have on average more than 20 years of experience in every single aspect of mine discovery and development, from geology to operations.
ON BEHALF OF THE BOARD OF DIRECTORS
Keith Morrison
Chairman and Chief Executive Officer
Premium Nickel Resources Ltd.
For further information about Premium Nickel Resources Ltd., please contact:
Jaclyn Ruptash
Vice President, Communications and Government and Investor Relations
+1 (604) 770-4334
Cautionary Note Regarding Forward-Looking Statements:
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the acquisition by the Company of the Phikwe South and Southeast Extension and the benefits and anticipated costs of acquiring Phikwe South and the Southeast Extension; and other statements that are not historical facts. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under PNRL's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.