Welcome to the nickel miners news for September. The past month saw nickel prices slightly lower and a busy month of news from the nickel market and juniors. Perhaps the biggest theme has continued to be the forecasts for a mid-term nickel deficit, explaining why Tesla’s (TSLA) Elon Musk called for miners to “mine more nickel”. Tesla Battery day reaffirmed Tesla’s massive EV metals demand ahead as it scales to 3TWh of battery capacity by 2030 and 20m EVs pa as their long term goal.

Nickel price news

As of September 30, the nickel spot price was USD 6.54, down from USD 6.82 last month. Nickel inventory at the London Metals Exchange [LME] was slightly lower than last month at 235,950 tonnes (238,830 tonnes last month).

Nickel spot prices – 5-year chart – USD 6.54/lb

Source: Mining.com

Nickel demand v supply charts

Nickel Long-term Price Projection

Source: Kalkine Media courtesy DIS

Battery nickel demand set to surge over ten fold this decade as the EV boom takes off

Source: Bloomberg

2019 to 2030 ‘battery’ demand increase forecast for EV metals – Nickel ‘battery’ demand forecast to increase by 14x

Source: Courtesy BloombergNEF

Benchmark Mineral Intelligence – Simon Moores’s – forecasts

Source: Benchmark Mineral Intelligence Twitter

Investors can also read my past article: “Top 5 Nickel Miners To Consider Before The Nickel Boom.

Nickel Market News

On August 28 Mining Weekly reported:

Mining industry yet to fathom scale of battery raw material challenges – Friedland. While global electric vehicle [EV] sales are back to a healthy growth trajectory, significant investment in mining capacity is required if EVs are to become anything more than a niche market, says mining entrepreneur Robert Friedland’s Clean TeQ Holdings. Nickel and cobalt, in particular, face substantial raw material challenges, at a time when EV sales growth is expected to drive unprecedented demand for these metals.

On September 9, Giga Metals announced:

Giga Metals provides update on nickel market. “We were not surprised to learn today about Vale’s decision to place their High Pressure, High Temperature Acid Leach [HPAL] operation in New Caledonia, commonly known as Goro, on care and maintenance” said Mr. Vydra. “HPAL is exceedingly complex and can be prone to failure. Even the best designed and constructed facilities must rely on experienced and well-trained personnel or they are likely to suffer setback after setback.” Earlier this year the Ambatovy HPAL operation in Madagascar was also placed on care and maintenance. These two operations represent nameplate capacity of close to 120,000 tonnes per year of nickel and 10,000 tonnes per year of cobalt. “The continued growth in lithium ion batteries relies on available nickel in the form of intermediates, powders or briquettes of which 2020 production is expected to total 477,000 tonnes according to Wood Mackenzie. Goro and Ambatovy represent 71,000 tonnes of that total in 2020, which demonstrates how tight the market could become,” continued Mr. Vydra. “400,000 tonnes of nickel equates to approximately 8 million Electric Vehicles (EVs) utilizing 50 kg of nickel per EV. That’s not too far in the future and when you consider that it takes anywhere from 5-10 years to bring a nickel operation such as HPAL into production, the nickel available for lithium ion batteries could be in deficit sooner than OEM’s and cathode manufacturers realize.

On September 10 Bloomberg reported:

Japan dives to secure cobalt and nickel in the ocean. Average grade of seabed cobalt is 10 times higher than land. Japan imported 900 metric tons of cobalt products in 2019. Japan Oil, Gas & Metals National Corp. (JOGMEC) confirmed that it has conducted the world’s first successful excavation test of a cobalt-rich crust on the seabed in Japan’s exclusive economic zone. The test utilized a special crust-excavation testing machine. In spite of the technological advancement, concerns remain over the environmental disturbance of deep sea mining on the marine ecosystem and biodiversity. Further tests are needed to determine its potential to compete with land-based mining.

On September 11 Mining Weekly reported:

Battery metals to boom despite widespread Covid-19 disruption. Battery metals, including lithium, vanadium, copper, cobalt, nickel, lead and graphite, are increasingly used in larger-scale battery storage products and in components used to transmit and distribute electricity. In terms of EVs, the focus is on electric-only EV development and roll-out. The progression of the EV will also shift development away from the concept car and towards the mass production of EVs for daily use. “All these will be enormous drivers of the demand for lithium, cobalt, nickel and vanadium, but above all copper.”

The battery boom will lead to a battery metals boom

Source

On September 11 Mining.com reported:

Eight mines the size of Glencore’s Katanga needed to meet battery metals demand – report. Nearly 800 kt LCE of additional lithium would need to come online in the next five years to meet the needs of the battery sector, a new report by Wood Mackenzie states….. electric vehicle market requiring over 1 million tonnes LCE in 2025. Similarly, the report states that the cobalt market would have to double by 2025. “To put this into perspective, to meet the incremental demand from EVs through 2030, an additional eight mines the size of Glencore’s Katanga would be required,” the document reads. “Wood Mackenzie’s AET brings electric vehicle [EV] uptake forward by ten years and sees EVs make up around 40% of passenger car sales by 2030. This considerably accelerates the demand for batteries and the raw materials that go into them.” Even though at present the battery sector makes up less than 5% of total nickel demand, under WoodMac’s AET, the prediction is that it would rise rapidly to 20% by 2025 and 30% by 2030. Thus, an additional 1.3 million tonnes of nickel suitable for the battery sector would be required by 2030.

On September 17 Investing News reported:

Simon Moores: What to expect at Tesla’s Battery Day and beyond. But Tesla’s ambitions and future plans will not come to pass without hurdles. “Raw material availability should raise the alarm bells for Tesla considering their rapid Gigafactory expansions in Berlin, Shanghai and Austin,” Moores said. In fact, unlike when the Gigafactory 1 in Nevada started, there are now 167 more gigafactories or battery megafactories competing for the same raw materials, as per Benchmark Mineral Intelligence data. “Today, Tesla’s sway of industrial power has diminished somewhat, both with the competition of new battery plants being established and a lack of new raw material in the pipeline that will be available.” For Moores, both quantity and quality of lithium, cobalt and nickel will be Tesla’s biggest hurdles to get right. Graphite anode and manganese will also come with their own sourcing challenges. “There is no doubt now that regardless of how well Tesla’s vehicles continue to sell, raw material availability will be the primary slowing factor on the company scaling.

On September 21 The UK Daily Telegraph reported:

Electric car boom fuels global scramble for nickel and cobalt. Their growing scarcity is a problem that is weighing heavy on not just Musk, but the entire electric car industry. … Demand for nickel is expected to increase six-fold by 2030, and supply isn’t keeping up.

Nickel Company News

Producers

Vale SA (NYSE:VALE)

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Vale plans a US$1.7B Voisey’s Bay expansion plan to boost their nickel production.

On September 8, Mining Weekly reported:

Vale idles New Caledonia nickel/cobalt mine as Aussie suitor walks away. Brazilian major Vale has announced that the Goro nickel and cobalt mine, in New Caledonia, will be placed on care and maintenance, after failing to reach an agreement with Australian miner New Century Resources to acquire the operation.

Norilsk Nickel (LSX: MNOD) (OTCPK:NILSY)

On September 2, Norilsk Nickel announced:

Great Norilsk Expedition: fieldwork completed. Scientists from 14 research institutes of the Russian Academy of Sciences’ Siberian Branch have collected several thousand samples of water, soil, and living organisms and have conducted measurements on the Taimyr Peninsula. Now they are ready to embark on the expedition’s most critical and important stage, namely lab tests and comprehensive data analysis.

On September 11, Norilsk Nickel announced:

PJSC MMC Norilsk Nickel successfully places a USD 500 million eurobond offering maturing in September 2025…..with an annual coupon rate of 2.55%. The proceeds from the issue will be used for general corporate purposes, including capital investments and refinancing.

On September 15, Norilsk Nickel announced: “Nornickel and Siberian Branch of Russian Academy of Sciences sign agreement on comprehensive Arctic study.”

Investors can read my article “An Update On Norilsk Nickel.”

BHP Group [ASX:BHP] (NYSE:BHP)

In 2017 BHP announced a US$43.3m investment in its Nickel West project to enable conversion to nickel sulphate.

No significant nickel news.

Jinchuan Group [HK:2362]

No news for the month.

Glencore [HK:805] [LSE:GLEN] (OTCPK:GLCNF)

No news for the month.

Sumitomo Metal Mining Co. (OTCPK:SMMYY)

No news for the month.

Anglo American [LSX:AAL] (OTCPK:AAUKF)

No nickel related news for the month.

Eramet (OTCPK:ERMAY)

On September 22, Eramet announce:

First Weda Bay Nickel ferroalloy sale by Eramet. Weda Bay’s nickel is selling! 7,000 tons have just been commercialized by the Group, a first for the Indonesian nickel ferroalloy. Eramet is selling 7,000 tons of nickel ferroalloy for the first time, produced by the Indonesian Weda Bay Nickel plant. A first cargo bought by Chinese clients was shipped on September 17.

Sherritt International (OTCPK:SHERF)[TSX:S]

On August 31, Sherritt International announced:

Sherritt announces successful closing of its transaction to improve its capital structure.

On September 28, Sherritt International announced: “Sherritt publishes its 2019 sustainability report.” Highlights include:

  • “Maintained Scope 1 greenhouse emissions comparable to 2018 despite an increase in finished nickel and cobalt production in 2019 of 8% and 4%, respectively……”

IGO Limited [ASX:IGO] (OTC:IIDDY) (formerly Independence Group)

On September 4, IGO Limited announced: “IGO enhances Fraser Range Holdings.” Highlights include:

  • “The Conditional Asset Sale Agreement with IGO Newsearch (guaranteed by IGO) and Subscription Agreement (the Transaction) involves Boadicea granting IGO the exclusive right to explore nine Fraser Range tenements (Tenure) for 5 years…..”

On September 23, IGO Limited announced: “Sustainability report 2020.”

Western Areas Ltd. [ASX:WSA](OTCPK:WNARF)

On September 2, Western Areas Ltd. announced: “Maiden ore reserve at AM6 boosts Odysseus base case.” Highlights include:

  • “A pre-feasibility study [PFS] was completed for the AM6 deposit, confirming its suitability to be developed as an additional mining zone located directly adjacent to the main Odysseus mining areas.
  • 26% increase in AM6 Mineral Resource Estimate of 2.8Mt at 2.4% Ni for 67.0 kt of nickel.
  • Maiden AM6 Probable Ore Reserve of 2.1Mt at 2.2% Ni for 47.1kt of nickel.
  • Total Probable Ore Reserve for combined Odysseus and AM6 now stands at 10.3Mt at 2.1% Ni for 212 kt of nickel.
  • The AM6 deposit is directly accessible from the existing AM5 decline infrastructure and provides an additional feed source to the Cosmos mill.
  • AM6 creates significant optionality for potential mine life extension and/or incremental mill feed through integration into the existing Odysseus mine plan.
  • Pre-production capital estimate for AM6 of $30m and total sustaining life of mine capital of $81m. AM6 pre-production capital expenditure currently planned post commencement Odysseus production and cashflow.
  • Further work to optimise an integrated production profile between AM6 and Odysseus is now underway.”

On September 8, Western Areas Ltd. announced: “Odysseus twin declines commenced mine construction update.”

On September 8, Perenti reported:

Barminco secures $200m Odysseus contract with Western Areas. Perenti [ASX: PRN] is pleased to announce its subsidiary, leading hard-rock underground miner Barminco, has been awarded a development and production contract at Western Areas’ Odysseus mine located at the Cosmos Nickel Operation, 30km north of Leinster in Western Australia. The contract is valued at approximately $200 million over five years and follows on from the earlier rehabilitation works completed by Barminco at the mine.

Panoramic Resources [ASX:PAN] (OTCPK:PANRF)

Panoramic’s Savannah mine and mill has a forecast life of mine average annual production rate of 10,800t of nickel, 6,100t of copper and 800t of cobalt metal contained in concentrate.

On September 1, Panoramic Resources announced: “Final report for the financial year ended 30 June 2020.”

On September 1, Panoramic Resources announced: “Underground development update.”

On September 15, Panoramic Resources announced: “Savannah Project –Exploration update.” Highlights include:

  • “Exploration drilling on new nickel sulphide targets has commenced at Savannah.
  • The upcoming programs will involve a combination of surface and underground diamond drilling and geophysical techniques to assess a series of priority targets at Savannah.
  • New targets leverage the extensive mining and processing infrastructure in place at Savannah.
  • Surface drilling will target the previously untested Oxide, and Stoney Creek intrusions.
  • Underground drilling will target a series of very strong electromagnetic anomalies interpreted as the potential westward projection of the Savannah North Upper Zone orebody.
  • The surface program commenced earlier this week, with the underground program to start in early October.”

Nickel Mines Ltd [ASX:NIC]

On August 31, Nickel Mines Ltd. announced: “Half year reports and dividend declaration.” Highlights include:

  • “Nickel Mines Group Results: Sales revenue: $227.8M (6 months to 30 June 2019: $56.8M). Gross profit: $56.4M (6 months to 30 June 2019: $67.5M1). Operating profit: $51.6M (6 months to 30 June 2019: $13.4M). Profit after tax: $45.5M (6 months to 30 June 2019: $73.5M1). EBITDA from RKEF operations: $74.0M (6 months to 30 June 2019: $18.3M). Net cash from operating activities: $78.7M (6 months to 30 June 2019: $4.1M).
  • 20,594 tonnes (12,356 tonnes attributable) of nickel metal produced in 147,476 tonnes of nickel pig iron.
  • Successful completion of a A$231M 1 for 3.6 Entitlement Offer.
  • Increased ownership of Hengjaya Nickel and Ranger Nickel RKEF projects from 60% to 80%.
  • Nickel Mines Group Balance Sheet: Net assets: $744.5M (30 June 2019: $454.8M). Current assets: $218.6M (30 June 2019: $108.2M). Net current assets: $167.1M (30 June 2019: $61.0M).”
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Conic Metals [TSXV:NKL]

Conic Metals has been formed from the Cobalt 27 spin-out. Conic Metals offers broad exposure to nickel and cobalt through a 8.56% JV interest in Ramu, 11 royalty investments, and an equity share of ~7% of Giga Metals Corporation.

On September 18, Conic Metals Corp. announced:

Conic adds C$6.9 million in cash. Conic Metals Corp. is pleased to announce that it has added C$6.9 million of cash to its balance sheet by, after approval of its independent board members, monetizing the 3.98 million shares that the Company owned in Giga Metals Corp. (“Giga Shares”). “Conic has significantly improved its balance sheet with the execution of this sale” stated Justin Cochrane, Conic’s President & CEO. “We continue to hold a 2.0% NSR royalty on Giga’s Turnagain property and believe that Turnagain has a unique opportunity to be a green source of Nickel for decades to automakers and battery makers as electric vehicles and energy storage systems continue to gain traction.”

Other nickel producers

Franco/Nevada [TSX:FNV], MMG [HK:1208], South32 [ASX:S32], Lundin Mining [TSX:LUN], Nickel Asia Corporation [PSE:NIKL] (OTC:NIKAY).

Note: First Quantum Minerals [TSX:FM] (OTCPK:FQVLF) plans to restart their Ravensthorpe nickel mine in early 2020.

Nickel juniors

Amur Minerals Corp. [LSE:AMC] [GR:A7L] (OTCPK:AMMCF)

No significant news for the month.

Poseidon Nickel [ASX:POS] (OTC:PSDNF)

On September 1, Poseidon Nickel announced:

Early repayment of convertible note. Poseidon Nickel Ltd hereby announces the early repayment of the US$17.5 million convertible note held by a subsidiary of major Poseidon Nickel shareholder Black Mountain Metals [BMM], prior to its maturity on 30 September 2020, presenting an interest saving to the Company.

On September 25, Poseidon Nickel announced: “Annual financial report to 30 June 2020.”

Note: This analyst’s report on Poseidon Nickel [ASX:POS] valuation is A$0.15. The stock is trading currently at A$0.05, so 3x upside.

Talon Metals [TSX:TLO] (OTCPK:TLOFF) Tamarack – (JV with Rio Tinto)

Tamarack is a high grade nickel-copper-cobalt project located in Minnnesota, USA, with considerable exploration upside. Talon Metals is earning in to own a 51% share by March 2022, with potential to further earn-in to a 60% share by 2026.

On August 31, Talon Metals announced:

Talon Metals: Metallurgical results confirm optionality of using nickel concentrates from Tamarack for the electric vehicle or stainless steel markets……Flotation optimization was conducted on a composite grading 1.61% Ni and 0.96% Cu.”

On September 16, Talon Metals announced: “Talon drilling update: Talon intercepts massive and disseminated sulphides at shallow depths more than 300 meters (985 feet) away from its current resource area.” Highlights include:

  • “Talon is presently drilling the first of 6 high priority exploration targets with the objective of significantly expanding the Company’s present resource…. The first area being drilled is referred to as the “CGO East” area….”

On September 16, Talon Metals announced:

Talon Metals comments on Tesla “Battery Day” and its critical role in meeting tThe growing demand for green nickel. Sean Werger, President of Talon, said, “The Tamarack Project is extremely well positioned for the advancement of battery technology, particularly for those advancing EV technology seeking sustainable sources of nickel. The production of Green NickelTM for batteries all starts and ends with the rocks it is mined from: They need to be high in nickel and low in deleterious elements. The Tamarack Project is one of the only undeveloped deposits that meets these criteria, and we expect it will play a critical role in the supply chain for battery and vehicle manufacturers looking for the lowest cost product produced in the most responsible way.”

Garibaldi Resources [TSXV:GGI] [GR:RQM] [LN:OUX6] (OTCPK:GGIFF)

On September 11, Garibaldi Resources announced: “Garibaldi drilling extends E&L intrusion 650 meters to the east, deep new geophysical drill targets detected.” Highlights include:

  • “…..El-20-89 has produced the widest mineralized intercept so far from 71.34 meters to 223 meters returning nickel-copper mineralization over 151.6 meters grading 0.56% nickel and 0.61% copper. This intersect included 80.53 meters of 0.88% nickel and 0.85% copper, which expanded the NE massive sulphide zone 6 meters South, the LDZ 15 meters North and the Second Chamber 45 meters West. Semi-massive veins along the contact edge with sediments assayed 0.33m (100.54-100.87m) of 6.87% nickel and 1.69% copper, and 0.15m (147.48-147.63m) of 3.04% nickel and 1.62% copper.”

Note: Garibaldi also found some nice gold grab samples (249g/t).

Cassini Resources [ASX:CZI] (OZ Minerals takeover)

On September 21, Cassini Resources announced: “Outcome of scheme meetings and general meeting.” Highlights include:

  • “OZ Minerals Limited (OZ Minerals) will acquire 100% of the shares in Cassini (Acquisition Scheme).
  • Caspin Resources Limited (Caspin), a wholly owned subsidiary of Cassini, will be demerged from Cassini by way of a capital reduction which will result in 100% of the shares in Caspin being distributed to Cassini shareholders (Demerger Scheme).”

On September 23, Cassini Resources announced: “Court approves schemes.”

On September 24, Cassini Resources announced: “Schemes of arrangement become effective.”

St George Mining Ltd [ASX:SGO] [GR:SOG]

The Cathedrals, Stricklands and Investigators nickel-copper discoveries (at Mt Alexander) are located on E29/638, which is held in joint venture by Western Areas Limited (25%) and St George (75%). St George is the Manager of the Project with Western Areas retaining a 25% non-contributing interest in the Project (in regard to E29/638 only) until there is a decision to mine.

On September 9, St George Mining Ltd announced: “Drilling at Mt Alexander delivers more thick intercepts of mineralised mafic-ultramafic units.”

On September 14, St George Mining Ltd announced: “Excellent metallurgical results for Mt Alexander.” Highlights include:

  • “….Separate clean saleable nickel and copper concentrates were generated in a conventional flotation circuit test.
  • Very high recovery of Platinum Group Elements (PGEs) in both the nickel and copper concentrates including from disseminated sulphides.
  • Nickel concentrate produced at the following grades: 16.2% Ni from massive sulphides at 90.6% recovery with 6.26 g/t total PGEs. 13.5% Ni from disseminated sulphides at 62% recovery with 8.10 g/t total PGEs.
  • Strong payable cobalt recoveries in the nickel concentrates with 0.59% Co in concentrate from massive sulphides and 0.50% Co in concentrate from disseminated sulphides.”
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Sama Resources [TSXV: SME] [GR;8RS] (OTCPK:SAMMF)

On September 24, Sama Resources announced:

Sama resumes exploration activity – Targeting Typhoon™ high conductivity nickel-copper-palladium anomalies at depth.

North American Nickel [TSXV:NAN]

On September 9, North American Nickel announced:

North American Nickel announces exploration program results from North Western Ontario and sudbury properties. North American Nickel Inc. announces results from its 2020 exploration programs on its 100% owned Quetico properties located in the Atikokan-Thunder Bay area, Ontario and on its 100% owned Post Creek Property located in Sudbury, Ontario.

Canada Nickel Company [TSXV:CNC]

On September 8, Canada Nickel announced: “Five additional infill holes continue to expand higher-grade core, drilling of additional targets now underway at the Crawford nickel-cobalt sulphide project.” Highlights include:

  • “Two holes continue to extend the higher grade mineralization in the western portion of the Main Zone. Hole CR20-61 intersected true width of 94 metres of 0.35% nickel including 49 metres of 0.40% nickel. Hole CR20-53 intersected core length of 183 metres of 0.35% nickel to a depth of over 300 metres…..”

On September 14, Canada Nickel announced:

Canada Nickel announces upsize of “bought deal” private placement to $13 million of units and flow-through shares…….at a price of $1.70 per FT Share, for total gross proceeds of $5,015,000 (the “Offering”).

On September 23, Canada Nickel announced: “Canada Nickel announces airborne geophysical survey underway on recently acquired option properties.”

On September 24, Canada Nickel announced: “Three additional infill holes continue to expand higher-grade core at Canada Nickel’s Crawford Nickel-Cobalt Sulphide Project.” Highlights include:

  • “The final three holes in the western portion of the Main Zone continue to extend higher grade mineralization – which remains open to the west. All three holes yielded core lengths of 121 to 188 metres of 0.34% nickel. Hole 59 collared in higher grade mineralization and yielded true width of 78 metres of 0.34% nickel.
  • Hole CR20-59 yielded one of the best PGM Zone intersections to date – a core length of 9 metres of 1.5 g/t PGM which deepened mineralization by more than 250 metres.”

Investors can view a CEO video here, or my CEO interview here on Trend Investing.

Giga Metals [TSXV:GIGA] (OTCQB:HNCKF)

On September 11 Reuters reported:

Exclusive: Tesla in talks to buy low carbon nickel from Canada – sources. Tesla is in discussions with Canadian miner Giga Metals about helping to develop a large mine that would give the electric carmaker access to low carbon nickel for its batteries, three sources familiar with the matter said……Giga Metals’s Turnagain mine in British Columbia has measured and indicated resources of 2.36 million tonnes of nickel and 141,000 tonnes of cobalt, according to its website.

Note: Regarding the above, both Tesla (TSLA) and Giga Metals declined to comment. On September 11 Giga Metals stated “there is no material announcement forthcoming.”

Other juniors

Ardea Resources [ASX:ARL] (OTCPK:ARRRF), Artemis Resources [ASV:ARV], Australian Mines [ASX:AUZ], Blackstone Minerals [ASX:BSX], Cassini Resources [ASX: CZI] (OTC:CSSQF), Centaurus Metals [ASX:CTM], Clean TeQ [ASX:CLQ] [TSX:CLQ] (OTCQX:CTEQF), FPX Nickel [TSXV:FPX], Grid Metals Corp [TSXV:GRDM, Inomin Mines [TSXV:MINE], Jervois Mining [ASX:JRV][TSXV:JRV] (OTCQB:JRVMF), New Age Metals [TXV:NAM], Nickel Creek Platinum [TSX:NCP] (OTCQX:NCPCF), Pancontinental Resources Corporation [TSXV:PUC], Polymet Mining [TSX:POM], Rox Resources [ASX:RXL], S2 Resources (ASX:S2R), Talisman Mining Ltd. [ASX:TLM], Transition Metals [TSXV:XTM], and Wall Bridge Mining [TSX:WM].

Note: Some of the above companies are covered in the Cobalt monthly news.

Conclusion

Nickel spot prices were slightly lower and LME nickel inventory was slightly lower in September.

Highlights for the month were:

  • Battery metals to boom despite widespread Covid-19 disruption.
  • Giga Metals says “the nickel available for lithium ion batteries could be in deficit sooner than OEM’s and cathode manufacturers realize.”
  • Japan dives to secure cobalt and nickel in the ocean.
  • WoodMac – 5% of total nickel demand, under WoodMac’s AET, the prediction is that it would rise rapidly to 20% by 2025 and 30% by 2030. Thus, an additional 1.3 million tonnes of nickel suitable for the battery sector would be required by 2030.
  • Simon Moores – “There is no doubt now that regardless of how well Tesla’s vehicles continue to sell, raw material availability will be the primary slowing factor on the company scaling.”
  • Electric car boom fuels global scramble for nickel and cobalt.
  • Vale idles New Caledonia nickel/cobalt mine as Aussie suitor walks away.
  • Eramet – First Weda Bay Nickel ferroalloy sale.
  • Western Areas – Maiden ore reserve at AM6 boosts Odysseus base case. 26% increase in AM6 Mineral Resource Estimate of 2.8Mt at 2.4% Ni for 67.0 kt of nickel.
  • Talon Metals: Metallurgical results confirm optionality of using nickel concentrates from Tamarack for the EV or stainless steel markets.
  • Garibaldi Resources drills 151.6 meters grading 0.56% nickel and 0.61% copper at their E&L nickel-copper-cobalt at Nickel Mountain. Also finds some good grade gold.
  • OZ Minerals takeover of Cassini Resources completes.
  • St George Mining – Excellent metallurgical results for Mt Alexander.
  • Canada Nickel continue to expand higher-grade core at Canada Nickel’s Crawford Nickel-Cobalt Sulphide Project.
  • Giga Metals reported to be in talks with Tesla, but on September 11 Giga Metals stated “there is no material announcement forthcoming.”

As usual all comments are welcome.

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Disclosure: I am/we are long BHP Group [ASX:BHP], Vale SA (VALE), NORILSK NICKEL [LSE:MNOD], GLENCORE [LSX:GLEN], ARDEA RESOURCES [ASX:ARL], AUSTRALIAN MINES [ASX:AUZ], POSEIDON NICKEL [ASX:POS], Amur Minerals [LN:AMC], Jervois Mining [TSXV:JRV]. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: The information in this article is general in nature and should not be relied upon as personal financial advice.

Editor’s Note: This article covers one or more microcap stocks. Please be aware of the risks associated with these stocks.



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