Chalice places "For Sale" sign on a significant nickel project.

The article mentioned that the discussions will be broadened to include various corporations that may be interested in mining or operating partnerships. These talks aim to increase the value received by shareholders and may involve a diverse range of transactions.

The location of Gonneville is on farmland that belongs to Chalice, and it's situated around 70 kilometers to the north-east of Perth. It holds significance as it forms a part of the Julimar project's larger domain.

In the latest resource update, 260 fresh drill holes have been included, marking the first update since July 2022. These findings suggest new opportunities to concentrate on areas with a higher grade within the deposit.

Alex Dorsch, the CEO of Chalice, has stated that due to the resource being of such high quality, it has generated interest from a variety of parties such as end-users, traders and downstream. As a result, the board has decided to begin searching for a strategic partner in a formal manner.

In simpler terms, Mr Dorsch gave a proposal that Chalice could choose to sell parts of their ownership in Julimar to multiple different partners. He also mentioned that they have received interest from big companies in the mining industry, some of whom have worked with PGE deposits before.

He stated that this procedure will take into account a wide variety of possible deals to achieve the highest possible value for shareholders. This will take place simultaneously with the current investigation study.

Recent discoveries suggest that there is a significant amount of untapped growth potential at the Gonneville site, particularly in deeper areas. In addition, the largely untested Julimar Complex to the north also shows promising potential for further exploration and development.

According to Mr Dorsch, Chalice holds the largest untapped deposit of nickel sulphide in Australia, second only to West Musgrave, which is being taken over by BHP as part of their acquisition of OZ Minerals.

He mentioned that Chalice had contemplated the possibility of using BHP's nickel smelter in Kalgoorlie, which is approximately 500 kilometers away from Gonneville, for processing. Additionally, Chalice explored alternatives that did not require smelting.

The Chalice pricing arrangement was confirmed one week following the proposed purchase of Mincor Resources by Wyloo Metals, owned by Andrew Forrest, for $760 million.

Mincor plays a significant role in supplying BHP by operating two mines that extract nickel sulphide from underground.

Chalice identified the need for a strategic partner in Julimar in October of last year due to an increase in interest after the Inflation Reduction Act was passed in the United States.

The company is looking for a partner who has a lot of money, knowledge in technology, and is well acquainted with the market in order to turn Gonneville into a mine.