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NICKEL MINES LIMITED ACN 127 510 589 ASX Release : 28 July 2021 ASX : NIC Shares on issue : 2.515B Market capitalisation : ( @ A $ 1.175 ) A $ 2.96B Board of Directors Non - Executive Chairman Rob Neale Executive Deputy Chairman Norman Seckold Managing Director Justin Werner Executive Director and CFO Peter Nightingale Non - Executive Director James Crombie Non - Executive Director Weifeng Huang Non - Executive Director Mark Lochtenberg Non - Executive Director Dasa Sutantio Non - Executive Director Yuan Yuan Xu QUARTERLY ACTIVITIES REPORT For the quarter ended 30 June 2021 NICKEL MINES LIMITED CONSISTENT NICKEL PRODUCTION OVER 10,000 TONNES AND RECORD MINE PRODUCTION DELIVERS US $ 57.9M EBITDA FROM OPERATIONS RKEF quarterly production of 10,143.0 tonnes of nickel metal ( 100 % basis ) , up 0.7 % from the 10,067.5 tonnes of nickel metal in the March 2021 quarter . NIC attributable nickel production was 8,114.4 tonnes of nickel metal . ■ 10,735.7 nickel tonnes sold ( 100 % basis ) , up 4.7 % from 10,257.1 nickel tonnes sold in the March quarter . RKEF quarterly sales of US $ 150.2M ( 100 % basis ) , up 8.7 % from the US $ 138.2M in the March quarter . RKEF quarterly EBITDA of US $ 50.8M ( 100 % basis ) , up 0.2 % from the US $ 50.7M in the March quarter . Underlying Free Cash Flow from Operations of US $ 57.7M ( 100 % basis ) , up 15.4 % from the US $ 50.0M in the March quarter . ■ RKEF June quarter cash costs : 。 Hengjaya Nickel : • Ranger Nickel : US $ 9,133 / tonne Ni , up 4.7 % from March quarter . US $ 9,081 / tonne Ni , up 5.1 % from March quarter . Record nickel ore production from Hengjaya Mine of 574,791 wmt , up 25.9 % from the record 456,487 wmt in the March quarter resulted in record quarterly EBITDA of US $ 7.1M , up 57.8 % from the US $ 4.5M in the March quarter . Record monthly production of 236,118 wmt in June . ■ Cash + receivables + inventory at quarter end of US $ 363.5M , up 31.0 % from US $ 277.4M in the March quarter . Completion of the issue of US $ 175M Senior Unsecured Notes and acquisition of an additional 20 % of Angel Nickel . ■ Angel Nickel project construction on schedule for commissioning in 2H 2022 to more than double nameplate nickel production . Substantial Shareholders Shanghai Decent 18.0 % PT . KBP 15.1 % BlackRock Group 7.8 % Baillie Gifford & Co. 6.2 % cpeacock@nickelmines.com.au +61 ( 0 ) 439 908 732 info@nickelmines.com.au +61 2 9300 3311