Companies: ENK   

Turkey-focused European Nickel has submitted a key application to remove environmental obstacles to developing the country’s Caldag project.

The AIM-quoted company has submitted an application to the Turkish Ministry of Environment and Forestry to develop Caldag, a promising nickel laterite project which had been dogged by delays in obtaining necessary tree-clearing permits. London-based European Nickel has applied for 335 hectares of forestry land, including an open-pit mine, waste dump and processing plant.

Steered by managing director Simon Purkiss, the company says that it has submitted its application after ‘extensive consultation with local and regional stakeholders’. European Nickel shares, which reached 63p a year ago, now trade at 34.5p, up 3.25p this morning, valuing the company at £134 million.

Growth Company Investor subscribers have full access to all our AIM and small-cap share recommendations. To subscribe today with a half-price offer, and gain immediate access to all the recommendations, click here.

European Nickel	AIM	£59.63m	15.50p	-1.00p
Click here for interactive charting
Other company articles:
European Nickel moves on project			22/05/2008
Turkish delights at European Nickel			28/06/2007
Is there life left in the mining boom?			29/05/2007
European Nickel negotiates funding			13/11/2006
European Nickel scoops £84m			18/05/2006