History
Incorporated in England and Wales on 12 June 2000, the company was successfully listed on the Alternative Investment Market in the UK in March 2004. ENK listed on ASX in June 2010.
ENK was founded in mid 2003 as European Nickel plc and initially pursued development of Caldag, a nickel asset in Western Turkey. ENK later listed, seeking funds to expand its asset portfolio.
In 2007 ENK entered into a joint venture with Rusina Mining NL (Rusina) to develop two nickel deposits on Luzon Island in the Philippines; Acoje and Zambales Chromite. ENK merged with Rusina in 2010, gaining sole ownership to both assets in the Philippines.
In August 2011 the Company changed its name to ENK plc and in November the same year it completed the sale of the Caldag asset for $40 million. The funds from the sale are being used to continue and accelerate the development the Acoje and Zambales Chromite resources in the Philippines to a full bankable feasibility study. The combined JORC resource of both assets is 73.6m tonnes for total nickel content of 818,800 tonnes of nickel metal.
In 2012 ENK selected Tank Leaching as its preferred method of extracting nickel from the ore body. ENK recently completed laboratory test work on the tank leaching technology. The results indicate a greater recovery rate than heap leaching technology, with the tank leaching testing yielding a 92% nickel recovery rate over a 22 hour period, as opposed to 72% recovery rate yielded by heap leaching over approximately 10 months.
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