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Nickel Stocks: Powering the Electric Future Amidst Geopolitical Challenges
A weekly Nickel market review with Mark Selby Nickel Market commentator and CEO of Canada Nickel Corp.
Recording date: 8th April 2024
Nickel is up more than $1,000 since we last spoke – now at $17,800 or over $8/lb. Chinese PMIs better than expected drove the entire base metal complex higher – all up nearly 2% on a single day, copper now $9,200 per tonne up over $4/lb. The move will need to see more concrete signs of improved markets/tightness to make an even higher move from here.
In China, sulphate prices came off a little last week so a large premium which emerged came back to earth. On the stainless side, we saw stainless and NPI prices start to level and finally saw stainless steel stocks decline after several weeks of increases. Indonesia are still importing ore from the Philippines and while ore prices in China were flat, Indonesia ore prices went up $3/tonne or more than 6%.
Company News
Karora Resources (KRR) merger with Westgold.
Magna Metals hit some great holes from 109 footwall zone (fluid around a bunch of gravel)
MCR-24-068: 0.7% Ni, 2.4 % Cu, 9.7 g/t Pt + Pd + Au over 26.3 metres Including 3.2% Ni, 11.3 % Cu, 10.6 g/t Pt + Pd + Au over 4.4 metres
MCR-24-069: 0.3% Ni, 0.3 % Cu, 10.7 g/t Pt + Pd + Au over 28.5 metres Including 0.9% Ni, 0.3 % Cu, 25.3 g/t Pt + Pd + Au over 7.8 metres
MCR-24-070: 1.6% Ni, 5.2 % Cu, 10.0 g/t Pt + Pd + Au over 17.1 metres Including 2.5% Ni, 9.6 % Cu, 17.4 g/t Pt + Pd + Au over 6.8 metres
A couple of big exploration plays outlined their plans:
Talon Metals outlined in some detail their targets both around current resource and in some district targets in a detailed release – a must read if curious about investing in the story. They are very well-funded as received substantial government money to explore their land packages.
Premium Nickel Resources hosted webcast walking through the exploration potential and targets for their Selebi properties – they do a good job outlining potential scale – will need to see if they can delineate a sizeable enough higher grade resource at the depth where the target occurs.
Released on the day of our last discussion, results from a number of holes – some good infill holes in existing resource but also some good extensions – these are the ones that will be most helpful to expand the resource and also some higher tenor nickel grades (narrow interval of 4% but shows potential)
SNUG-23-017 (South Limb, 180 metres down plunge of historic resource) 18.15 metres of 2.21% NiEq (1.27% Ni; 1.65% Cu; 0.06% Co) incl. 6.25 metres of 3.23% NiEq (2.34% Ni; 1.40% Cu; 0.11% Co) and 3.50 metres of 3.22% NiEq (1.06% Ni; 4.08% Cu; 0.05% Co)
SNUG-23-069: (between N2 and N3 fold noses, outside historic resources): 5.85 metres of 1.63% NiEq (1.17% Ni, 0.70% Cu, 0.06% Co) incl. 2.25 metres of 2.50% NiEq (1.52% Ni, 1.64% Cu, 0.09% Co) incl. 0.45 metres of 5.86% NiEq (4.53% Ni, 2.10% Cu, 0.16% Co)
—
Learn more: https://cruxinvestor.com/categories/commodities/nickel
Sign up for Crux Investor: https://cruxinvestor.com
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By Crux InvestorA weekly Nickel market review with Mark Selby Nickel Market commentator and CEO of Canada Nickel Corp.
Recording date: 8th April 2024
Nickel is up more than $1,000 since we last spoke – now at $17,800 or over $8/lb. Chinese PMIs better than expected drove the entire base metal complex higher – all up nearly 2% on a single day, copper now $9,200 per tonne up over $4/lb. The move will need to see more concrete signs of improved markets/tightness to make an even higher move from here.
In China, sulphate prices came off a little last week so a large premium which emerged came back to earth. On the stainless side, we saw stainless and NPI prices start to level and finally saw stainless steel stocks decline after several weeks of increases. Indonesia are still importing ore from the Philippines and while ore prices in China were flat, Indonesia ore prices went up $3/tonne or more than 6%.
Company News
Karora Resources (KRR) merger with Westgold.
Magna Metals hit some great holes from 109 footwall zone (fluid around a bunch of gravel)
MCR-24-068: 0.7% Ni, 2.4 % Cu, 9.7 g/t Pt + Pd + Au over 26.3 metres Including 3.2% Ni, 11.3 % Cu, 10.6 g/t Pt + Pd + Au over 4.4 metres
MCR-24-069: 0.3% Ni, 0.3 % Cu, 10.7 g/t Pt + Pd + Au over 28.5 metres Including 0.9% Ni, 0.3 % Cu, 25.3 g/t Pt + Pd + Au over 7.8 metres
MCR-24-070: 1.6% Ni, 5.2 % Cu, 10.0 g/t Pt + Pd + Au over 17.1 metres Including 2.5% Ni, 9.6 % Cu, 17.4 g/t Pt + Pd + Au over 6.8 metres
A couple of big exploration plays outlined their plans:
Talon Metals outlined in some detail their targets both around current resource and in some district targets in a detailed release – a must read if curious about investing in the story. They are very well-funded as received substantial government money to explore their land packages.
Premium Nickel Resources hosted webcast walking through the exploration potential and targets for their Selebi properties – they do a good job outlining potential scale – will need to see if they can delineate a sizeable enough higher grade resource at the depth where the target occurs.
Released on the day of our last discussion, results from a number of holes – some good infill holes in existing resource but also some good extensions – these are the ones that will be most helpful to expand the resource and also some higher tenor nickel grades (narrow interval of 4% but shows potential)
SNUG-23-017 (South Limb, 180 metres down plunge of historic resource) 18.15 metres of 2.21% NiEq (1.27% Ni; 1.65% Cu; 0.06% Co) incl. 6.25 metres of 3.23% NiEq (2.34% Ni; 1.40% Cu; 0.11% Co) and 3.50 metres of 3.22% NiEq (1.06% Ni; 4.08% Cu; 0.05% Co)
SNUG-23-069: (between N2 and N3 fold noses, outside historic resources): 5.85 metres of 1.63% NiEq (1.17% Ni, 0.70% Cu, 0.06% Co) incl. 2.25 metres of 2.50% NiEq (1.52% Ni, 1.64% Cu, 0.09% Co) incl. 0.45 metres of 5.86% NiEq (4.53% Ni, 2.10% Cu, 0.16% Co)
—
Learn more: https://cruxinvestor.com/categories/commodities/nickel
Sign up for Crux Investor: https://cruxinvestor.com