Argonaut acted as Financial Advisor to Cobalt 27 Capital Corp on its successful $114 million Acquisition of Highlands Pacific Limited through a Papua New Guinea Scheme of Arrangement. Cobalt 27 Capital Corp is an electric metals investment vehicle for metal-producing companies integral to battery and electric vehicle production. Highlands Pacific Limited is a mineral exploration company, which was the world’s first low-cost producing cobalt-nickel base. Highlands Pacific had assets in Papua New Guinea, including the world-class Ramu Nickel-Cobalt Mine. Argonaut completed this complex cross-border transaction in May 2019.

In 2019, Cobalt 27 Capital Corp was acquired by Pala Investments Limited and created the Conic Metals Corp., now trading in TSX under NKL as Nickel28. Nickel28 is a nickel-cobalt producer with a portfolio of low-cost, world-class mineral assets all over the world with the Ramu Nickel-Cobalt Mine in Papua New Guinea as its primary asset. Nickel28 is also invested in Dumont Nickel-Cobalt in Quebec, the Turnagain Nickel-Cobalt in Canada, and the Flemington Cobalt-Scandium-Nickel and Nyngan Cobalt-Scandium-Nickel in Australia.