Welcome to the nickel miners news for June. The past month saw nickel prices about the same and plenty of good news.

Nickel price news

As of June 25, the nickel spot price was USD 5.62, about the same as USD 5.56 last month. Nickel inventory at the London Metals Exchange [LME] was about the same as last month at 234,198 tonnes (233,970 tonnes last month).

Nickel spot prices – 5-year chart – USD 5.62/lb

Source: InfoMine.com

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Nickel demand v supply

On June 8 Investing News reported:

Woodmac: Nickel sulfate output to peak in 2027. The research firm predicts that production of the raw material could rise from 211,000 tonnes in 2019 to a peak of 450,000 tonnes in 2027. The EV sector could drive demand to reach 800,000 tonnes by 2035. As demand from the electric vehicle [EV] space continues to accelerate, nickel sulfate supply will struggle to meet demand, with output expected to peak in 2027, according to Wood Mackenzie.

Source

On June 19 Mining Weekly reported:

Electric vehicle rally to maintain demand for battery metals despite Covid-19. Although subdued as a result of Covid-19, demand for battery metals, including cobalt, lithium and copper, will remain strong as a result of growth in the global electric vehicles [EVs] market, business intelligence company CRU UK cobalt, lithium and battery markets senior analyst George Heppel said this week……However, Heppel pointed out that, interestingly, although the automotive market as a whole had been hit hard by Covid-19, the EV sector had actually had a few good months, all things considered.

The chart below shows nickel is forecast to be in deficit after ~2020-2022 (note it is a bit outdated now).

Source: Wood Mackenzie

As a reminder the November 2017 McKinsey report stated:

“If annual electric vehicle [EV] production reaches 31 million vehicles by 2025 as expected then demand for high-purity class 1 nickel is likely to increase significantly from 33 Kt in 2017 to 570 Kt in 2025.”

Note: That is a 17 fold increase in just 8 years, albeit only on Class 1 nickel.

Nickel demand from EVs set to surge 5x from 2020 to 2025

Source: Fastmarkets

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

Nickel Market News

On June 15 Argus Media reported:

EV sales in 2020 to match 2019 despite Covid-19: IEA. Demand for battery metals such as lithium, nickel and cobalt will increase sharply. Demand is also expected to increase for other metals used in drive trains such as rare earths and metals used in charging stations, such as copper and steel.

On June 24 Investing News reported:

Simon Moores: US domestic supply chain build out “far too slow”. “It is not too late for the US, but action is needed now,” Simon Moores of Benchmark Mineral Intelligence told the US Senate on Tuesday. “A new global lithium-ion economy is being created,” Moores said. “Yet any US ambitions to be a leader in this lithium-ion economy continue to only creep forward and be outstripped by China and Europe.” Looking at the raw materials needed to supply that lithium-ion economy, Benchmark Mineral Intelligence forecasts that by 2029, demand for nickel will double, while demand for cobalt will grow by three times, flake graphite by four times and lithium by more than six times.

Nickel Company News

Producers

Vale SA (NYSE:VALE)

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

On June 10, Vale SA announced:

Vale informs the final agreement in class action concerning Samarco….. the Southern District of New York granted final approval to the proposed settlement agreement concerning Samarco’s Fundão dam class action brought by holders of Vale’s American Depositary Receipts under U.S. federal securities laws. The settlement was established in the total amount of US$ 25 million.

On June 11, Vale SA announced: “Vale informs on the injunction to present guarantees.”

On June 19, Vale SA announced:

Vale signs definitive agreements with Inalum for the sale of a minority equity stake in PT Vale. Vale SA (“Vale”) informs that its subsidiary Vale Canada Limited (“VCL”) has signed, together with Sumitomo Metal Mining Co., Ltd. (“SMM”), the definitive agreements (“Agreements”) for the sale of a 20% stake of PT Vale Indonesia Tbk (“PT Vale”) to PT Indonesia Asahan Aluminium (Persero) (“Inalum”).

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

On May 31, MMC Norilsk Nickel announced: “Clean-up underway after accidental diesel spill at Norilsk nickel’s Heat and Power Plant №3.”

On June 19, MMC Norilsk Nickel announced:

Nornickel disposes of Honeymoon Well nickel project in Australia. Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that through its Australian subsidiary, MPI Nickel Pty Ltd, it has entered into a definitive agreement with BHP Billiton Nickel West Pty Ltd (“BHP” or “the Buyer”), a wholly owned subsidiary of BHP Group Limited, to sell its Honeymoon Well Nickel Project (“the Project”) for an undisclosed amount.

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.

On June 19, BHP Group announced:

BHP to acquire new nickel tenements in Western Australia. BHP has agreed to acquire the Honeymoon Well Nickel Project comprising the Honeymoon Well development project and a 50 per cent interest in the Albion Downs North and Jericho exploration joint ventures from MPI Nickel Pty Ltd, a wholly owned subsidiary of Norilsk Nickel Australian Holdings BV. BHP Nickel West is currently a 50 per cent shareholder in the Albion Downs North and Jericho Joint Ventures. The combined tenement package is located in the northern Goldfields region of Western Australia, approximately 50 kilometres from BHP’s Mt Keith mine and 100 kilometres from its Leinster concentrator. The package includes: The Wedgetail deposit, which contains a high-grade nickel sulphide resource. A high quality disseminated sulphide resource in the style of the Mt Keith and Yakabindie ore bodies.

Jinchuan Group [HK:2362]

No significant news for the month.

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

On June 19, Glencore announced:

Investigation by the Office of the Attorney General of Switzerland. Glencore has today been informed by the Office of the Attorney General of Switzerland [OAG] that it has opened a criminal investigation into Glencore International AG for failure to have the organizational measures in place to prevent alleged corruption in the Democratic Republic of Congo currently under investigation by the OAG.

Sumitomo Metal Mining Co. (OTCPK:SMMYY)

On June 12, Sumitomo Metal Mining Co. announced:

Towards the creation of a Solar Energy Society for 2050 Start of initiatives based on a Vision Co-Creation Partnership with Tohoku University.

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

No news for the month.

You can view a company presentation here.

Eramet (OTCPK:ERMAY)

On June 22, Eramet announced:

Eramet: response to rumours about its subsidiary Aubert & Duval. The current crisis due to Covid-19 is unprecedented, with a lasting impact on the global economy. The very significant slowdown of the aerospace sector weighs strongly on the activity of Aubert & Duval (“A&D”), Eramet’s subsidiary. The decrease in the production rates of the aerospace industry, notably Airbus which announced an approximately one-third cut in production versus pre-crisis level, should indeed have a strong and lasting impact on A&D’s activity……Sales were down 50% in April and in May. Based on the latest forecast, A&D turnover should decrease by approximately 20 % in 2020 compared to 2019, which will weigh on its financial performance and situation.

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

On June 10, Sherrit International announced:

Sherritt announces amendments to its transaction to improve its Capital Structure and Additional Noteholder Support.

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

On June 11, IGO Limited announced: “MLX: $32M Paterson Province exploration JV with IGO Limited.” Highlights include:

  • “Metals X and IGO have executed a binding Term Sheet covering 2,394 km2 comprising the Metals X’s PEP.
  • Metals X retains 100% rights to Nifty and its associated processing infrastructure, the Maroochydore Project, and 393 km2 of highly prospective exploration tenure.
  • IGO can sole fund $32 million of exploration activities over 6.5 years to earn a 70% interest in the PEP, including a minimum expenditure before withdrawal of $11 million over 3.5 years.
  • Upon earning a 70% interest, the Joint Venture will form and IGO will free-carry Metals X to the completion of a Pre-feasibility Study [PFS] on a new mineral discovery……”

On June 17, IGO Limited announced: “$7M agreement with IGO Symons Hill -Fraser Range.” Highlights include:

  • “IGO Newsearch Pty Ltd [IGO], a wholly owned subsidiary of IGO Limited [ASX: IGO] has executed a $7M agreement with Matsa to earn a 70% interest in the Symons Hill nickel project in the Fraser Range.
  • Matsa could receive staged cash payments of up to $3.5M.
  • IGO can elect to spend a minimum of $3.5M to earn a 70% interest in the Symons Hill project.
  • Matsa is not required to incur any costs, and would be “free carried” until IGO either completes a feasibility study or reaches a decision to develop and mine.
  • Matsa retains exposure to the emerging Fraser Range area with an established and well credentialed partner in IGO and in Matsa’s own right.”

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

On June 19, Western Areas Ltd. announced:

Western Areas 19.9% stake in Panoramic Resources. Western Areas Ltd is pleased to confirm that following the successful completion of Panoramic Resources Limited (“Panoramic”) capital raising, Western Areas has been issued a further 108,611,863 Panoramic shares (“Shares”), via the Company’s participation as a sub-underwriter to the retail entitlement offer component of Panoramic’s capital raising. Following issue of the Shares, Western Areas continues to maintain its 19.9% ownership position in Panoramic.

On June 23, Western Areas Ltd. announced: “Drilling at Western Gawler intersects significant widths of nickel and copper bearing mineralisation.” Highlights include:

  • The first diamond hole at the Sahara prospect has intersected over 200m (down-hole length) of nickel and copper bearing sulphides hosted by a thick pyroxenite intrusive body.
  • Average 2%–5% sulphide content across the entire intrusive body, with average sulphide content increasing with depth and Niton XRF values confirming elevated nickel and copper values (assays pending)…..”

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 June 2, Panoramic Resources announced: “Successful completion of placement and institutional entitlement offer.”

On June 9, Panoramic Resources announced: “Repayment of senior and subordinated debt facilities.” Highlights include:

  • “A$25M senior debt facility fully repaid.
  • A$8M subordinated debt facility fully repaid.
  • Panoramic now debt free.”

On June 16, Panoramic Resources announced: “Successful completion of retail component of entitlement offer.” Highlights include:

  • “Successful completion of the Retail Entitlement Offer taking total funds raised to A$90,144,855 (before expenses).
  • Panoramic’s recapitalisation is now complete which will enable continued capital development at Savannah for an eventual restart in operations.
  • New Shares issued under the Retail Entitlement Offer are expected to commence trading on ASX on Monday 22 June 2020.”

Nickel Mines Ltd [ASX:NIC]

On April 29, Nickel Mines Ltd. announced: “Quarterly activities report for the quarter ended 31 March 2020.” Includes record quarterly nickel production of 11,291.3 tonnes of nickel metal (100% basis).

On June 11, Nickel Mines Ltd. announced:

Successful completion of retail entitlement offer…..The institutional component of the Entitlement Offer closed on 20 May 2020 and raised approximately A$179 million at A$0.50 per New Share. The Retail Entitlement Offer closed at 5:00pm on Tuesday, 9 June 2020 and raised approximately A$32 million, implying a take-up rate by eligible retail shareholders of approximately 60%……

On June 17, Nickel Mines Ltd. announced:

Move to 80% of Hengjaya and Ranger RKEF Projects. The Directors of Nickel Mines Limited (‘the Company’ or ‘Nickel Mines’) are pleased to advise that the Company has notified its collaboration partner, Shanghai Decent, of its intention to acquire a further 20% of the issued and paid-up share capital of Hengjaya Holdings Private Limited and Ranger Investment Private Limited, being the respective Singaporean domiciled holding companies that wholly own PT Hengjaya Nickel Industry and PT Ranger Nickel Industry, the Indonesian PMA1 companies that in turn own 100% of the Hengjaya Nickel and Ranger Nickel Projects.

Axiom Mining [ASX:AVQ] (OTC:AXNNF)

No news for the month.

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)

On June 11, Amur Minerals Corp. announced:

TEO Update – Indicative revenue terms…..Following on from the update announced on 1 June 2020 on the generation of a copper concentrate, along with that of a nickel concentrate, using industry standard sulphide floatation methods, the Company is pleased to announce that it has been provided with non-binding indicative offtake terms for both the nickel and copper concentrates……

On June 24, Amur Minerals Corp. announced:

Bankable Feasibility Study strategy……The Company is currently in the process of finalising the detailed plan and costing of the BFS and will begin engaging with potential partners who will assist in the compilation of the BFS….. The primary funding objective is to position the Company so that it can finance the BFS. It is envisaged that the funding will be principally through debt, with a further component funded through equity and / or a supporting investment from an offtake partner.In addition, the Company is actively seeking to invest in mining opportunities in the near future that are either near cash flow or are already in production in established mining jurisdictions. The objective for this strategy is to provide revenue streams to fund the Company’s corporate activities through the BFS and beyond.

On June 26, Amur Minerals Corp. announced: “Audited final results for the Year ended 31 December 2019……….

PFS Highlights:

  • “JORC Mineral Resource Estimate of 155.1 million ore tonnes.
  • Nickel equivalent grade of 1.02% equating to 1.58 million equivalent tonnes of nickel metal.
  • Production from four open pits and one underground operation.
  • Two production scenarios – toll smelt and low-grade matte.
  • C1 costs within the second lower quartile for nickel producers.
  • Toll smelt – estimated US$3.87 per pound of payable nickel.
  • Low-grade matte – estimated US$2.34 per pound including additional by-product revenues.
  • Pre-production capital expenditure.
  • Toll smelt – US$570.4 million with a payback period of three years./
  • Low-grade matte – US$695.0 million with a payback period of three years.
  • Using US$8 per pound nickel and 10% discount rate.
  • Toll smelt – NPV US$614.5 million, IRR 29.3%.
  • Low-grade matte – NPV US$987.4 million, IRR 34.7%.”

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

No nickel related news for the month.

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

On June 26, Garibaldi Resources announced:

Garibaldi begins drilling at Nickel Mountain…..2020 exploration will be focused along a highly prospective 2-km-long east-southeast trending corridor interpreted to be a significant magmatic pathway for the E&L Intrusion. A surface EM survey has revealed a high priority distinct EM anomaly 250 meters southwest of the Northwest Zone massive sulphide outcrop.

Cassini Resources [ASX:CZI]

On May 28, Cassini Resources announced: “Yarawindah Ni-Cu-PGE Project exploration update.” Highlights include:

  • Visually encouraging Ni-Cu sulphide intercepts in first two drill holes.
  • Detailed surface EM and infill soil results further strengthen XC06 target.
  • Drill program re-prioritised to drill XC06 anomaly as soon as possible

On June 22, Cassini Resources announced: “OZ Minerals to acquire Cassini Resources.” Highlights include:

  • “OZ Minerals to acquire Cassini Resources via a Scheme of Arrangement, consolidating its ownership of the West Musgrave Project to 100%.
  • Cassini to undertake an inter-conditional demerger of its Yarawindah Brook and Mount Squires assets into a new company, Caspin Resources Limited(”Caspin”) which intends to applyto list on the ASX.
  • Transaction is mutually beneficial:oOZ Minerals gains maximum optionality regarding development of the West Musgrave Project. Cassini shareholders receive immediate value for the West Musgrave Project and ongoing exposure to upside from future West Musgrave Project value, as well as Yarawindah Brook and Mount Squires, via Caspin.
  • In addition to Caspin shares, Cassini shareholders will receive consideration with an implied value of A$0.16 per share comprised of: A$0.15 in the form of one new OZL share for every 68.5CZI shares held. A$0.01 per share cash capital return to be paid out of Cassini’s existing cash balance.
  • Caspin may also receive additional cash payment [S] of up to A$20 million in total in the event of a potential future sale of all or a portion of OZ Minerals’ interest in West Musgrave (if such future sale is above the implied value of this Transaction).
  • The A$0.16 per share, which excludes the Caspin shares, represents the following premiums to recent Cassini Resources trading: A 31% premium to 1-day VWAP. A 31% premium to 1-month VWAP. A 55% premium to 3-month VWAP.
  • Board of Cassini has unanimously recommended the Transaction and confirmed their intention to vote in favour of all resolutions.
  • Major shareholders of Cassini (representing 17.4% of issued capital), including Tinci Materials, have confirmed to Cassini their intention to vote in favour of the Transaction.”

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 June 3, St George Mining Ltd. announced: “St George share purchase plan oversubscribed as drilling escalates at Mt Alexander nickel‐copper sulphide project.”

On June 15, St George Mining Ltd. announced: “Drilling in full swing at Mt Alexander nickel-copper sulphide project.” Highlights include:

Resource definition at Stricklands progresses:

  • “Reverse circulation [RC] drill-out of the shallow, high-grade nickel-copper sulphide deposit at the Stricklands Prospect is continuing.
  • Metallurgical diamond core holes are underway with 505m of planned diamond drilling scheduled for completion this week.
  • Entech, external geological consultant for the maiden resource estimate for Stricklands, will be at site this week…..”

Sama Resources [TSXV: SME] [GR;8RS] (OTCPK:SAMMF)

On May 27, Sama Resources announced: “Sama Resources announces positive preliminary economic assessment for Samapleu Project.” Highlights include:

  • “Average annual production of 3,900 tonnes(“t”) of carbonyl nickel powder, 8,400 t of carbonyl iron powder and 14,100 t of copper concentrate over a 20-year mine life.
  • Capital costs of $282 million (“M’) including contingency of $37 M.
  • Operational costs of $23.96/t milled.
  • Pre-tax Net Present Value (“NPV”) at 8% discount rate of $615M and internal rate of return (“IRR”) of 32.5%.
  • After-tax NPV at 8% discount rate of $391M and after-tax IRR of 27.2%.”

North American Nickel [TSXV:NAN]

On June 1, North American Nickel announced:

North American Nickel announces exploration program in Northwestern Ontario and provides update on Loveland earn-in agreement. North American Nickel Inc. announces plans for a 2020 exploration program on its 100% owned Quetico properties located in the Atikoken-Thunder Bay area, Ontario. NAN also provides an update on the agreement to earn a 100% undivided interest in the Loveland Nickel property (“Loveland”), located 30km northwest of Timmins, Ontario.

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 June 22, Conic Metals announced:

Conic releases Ramu q1 2020 operating costs, issues audited financial statements and announces results of annual meeting…..“Ramu’s operating costs continue to consistently show that it is a low cost asset capable of delivering strong cash flow despite the downward pressure we have seen on nickel and cobalt prices during this global pandemic” stated Justin Cochrane, President and CEO.

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

Canada Nickel Company [TSXV:CNC]

On May 27, Canada Nickel announced: “Canada Nickel announces extension of main zone by 1.5 kilometres and East Zone by 400 metres at Crawford Nickel-Cobalt-Palladium Project.” Highlights include:

  • “Hole CR20-33 extended East Zone nickel and PGM mineralization along strike by 400 metres to the east (to 2.1 kilometres) and yielded another higher grade intersection with elevated PGM grades–38 metres of 0.37% nickel and 0.17 g/t palladium + platinum (0.12g/t Pd, 0.05g/t Pt) within 315 metres of 0.25% nickel from 120 metres downhole.
  • Hole CR20-32 extended Main Zone nickel mineralization by 1.5km along strike to the north (to 3.2 km) and yielded 243 meters of 0.25% nickel and 0.013% cobalt from 390 metres downhole and ended in mineralization with the final 57 metres grading 0.30% nickel and 0.013% cobalt….”

On June 11, Canada Nickel announced:

Canada Nickel exploration drilling extends PGM mineralization and delivers multiple nickel intersections from East Zone of the Crawford Nickel-Cobalt-Palladium Project. Multiple intersections of nickel mineralization more than 250 metres core length with a higher grade interval of 0.37% nickel and 0.3 g/t palladium + platinum (0.2 g/t Pd, 0.1 g/t Pt) over 33 metres core length in hole CR20-34 (consistent with nearby intersection in previously reported hole CR20-28).

On June 22, Canada Nickel announced: “Canada Nickel drills 0.42% nickel over 306 metres, infill drilling highlights potential of higher-grade core at Canada Nickel’s Crawford nickel-cobalt-palladium project.”

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

Centaurus Metals [ASX:CTM] (OTC:CTTZF)

On June 29 Centaurus Metals announced:

Maiden JORC 2012 Indicated and Inferred Mineral Resource Estimate(MRE) confirms Jaguar as an outstanding near-surface nickel sulphide deposit,with the Jaguar MRE estimated to contain 48.0Mt @ 1.08% Ni for 517,500t of nickel…. More than 80% of the Resource is within 200m of surface,making Jaguar an exceptional shallow high-grade nickel sulphide growth and development opportunity….. Importantly, the MRE contains a significant high-grade portion, with the Jaguar High-Grade MRE (Indicated and Inferred) estimated to contain 20.6Mt @ 1.56% Ni for 321,400t of nickel.

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), Clean TeQ [ASX:CLQ] [TSX:CLQ] (OTCQX:CTEQF), FPX Nickel [TSXV:FPX], Giga Metals [TSXV:GIGA], Grid Metals Corp [TSXV:GRDM, Inomin Mines [TSXV:MINE], Karora Resources Inc. (TSX:KRR) (OTCQX:KRRGF) (formerly RNC Minerals), 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], Talon Metals [TSXV:TLO], 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 little changed last month and LME nickel inventory was about the same in June.

Highlights for the month were:

  • CRU – Electric vehicle rally to maintain demand for battery metals despite Covid-19.
  • Woodmac – “As demand from the electric vehicle [EV] space continues to accelerate, nickel sulfate supply will struggle to meet demand.”
  • IEA – EV sales in 2020 to match 2019 despite Covid-19.
  • Simon Moores (Benchmark Mineral Intelligence) tells the US Senate – US domestic supply chain build out “far too slow”. “It is not too late for the US, but action is needed now.”
  • Nornickel sells Honeymoon Well nickel project in Australia to BHP Group.
  • IGO Newsearch Pty Ltd [IGO], a wholly owned subsidiary of IGO Limited [ASX: IGO] has executed a $7M agreement with Matsa to earn a 70% interest in the Symons Hill nickel project in the Fraser Range.
  • Western Areas now owns a 19.9% stake in Panoramic Resources. Drilling at Western Gawler intersects significant widths of nickel and copper bearing mineralisation.
  • Nickel mines – record quarterly nickel production, large equity raise, and moves to 80% of Hengjaya and Ranger RKEF Projects.
  • Sama Resources PEA for Samapleu Project. After-tax NPV8% of $391m, IRR of 27.2%. Capital costs of $282m including contingency of $37m. LOM 20 years.
  • Canada Nickel announces extension of main zone by 1.5 kilometres and East Zone by 400 metres at Crawford Nickel-Cobalt-Palladium Project. Canada Nickel drills 0.42% nickel over 306 metres.

As usual all comments are welcome.

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Disclosure: I am/we are long NORILSK NICKEL [LSE:MNOD], GLENCORE [LSX:GLEN], RNC MINERALS [TSX:RNX], AXIOM MINING (ASX:AVQ), ARDEA RESOURCES [ASX:ARL], AUSTRALIAN MINES [ASX:AUZ], POSEIDON NICKEL [ASX:POS], Amur Minerals [LN:AMC]. 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.