Kolosori Nickel Project

In 2020 Malachite entered into a memorandum of understanding (MOU) with Kolosori Nickel (SI) Limited (KNL). KNL holds PL 05/19, which holds the main part of the Kolosori Nickel Project which is also on Isabel Island in the Solomon Islands.PL 05/19 is to the east of the Jejevo tenement on Isabel Island. Under the MOU, Malachite has exclusivity until 30 June 2020 to carry out due diligence and consider a transaction with KNL. Malachite is undertaking due diligence on this project. The resource at Kolosori is at a similar stage to that at Jejevo and if commercial terms are resolved with KNL the initial objective would be to carry out sufficient work to confirm a 2012 JORC Resource at the earliest opportunity.