Nickel's Bright Future: Invest Now for Electric Vehicle Boom

Recording date: 20th March 2024Nickel is in the $17,500 range (just under $8/lb) off about $1,000/tonne since last week’s recent high and retracing some of the gains. Still up 10% from the bottom – remember don’t go up or down in a straight line so this kind of pullback is expected.In China, we are still seeing expected battery restocking with sulphate prices up another 2% this week, however, stainless markets looking a little sluggish with inventories ticking higher and prices coming off.To be able to take nickel prices another leg higher, will likely need to see both batteries and stainless moving higher so expect we’ll settle into this nickel price range for a bit.Company NewsCanada Nickel’s best hole yet at Reid – one of the top targets - best interval to date at the first hole at Reid - 675 metres of 0.25% nickel including 142 metres of 0.32% nickel and 24 metres of 0.40% nickel in REI24-17. The first section delineating over 800-metre width of the target ultramafic sequence - nearly 2 times thicker than Crawford and a new discovery at Newmarket. The first 2 holes at Newmarket hit, including 373 metres of 0.24% nickel in NEW24-01 The initial Newmarket results are also very encouraging, despite the fact CNC were only able to drill at the least attractive geophysical target due to seasonal logistical constraints. This initial drilling occurred on the edge of the eastern end of the 7-km long Newmarket target, which is contiguous with the Mann Southeast target and is part of an overall geophysical target more than 3 times larger than Crawford.Spruce Ridge, which acquired an advanced nickel laterite in Oregon a couple of months ago, has now picked up another laterite and sulphide property. The US is always challenging from a permitting perspective, but this is one of only a handful of places to find nickel in the US and was the only producing region for a long time in the US.Poseidon Nickel sold its Lake Johnson mill and Emily Ann/Maggie Hays properties (operated in the 2000s) to Min Res who is going to convert it to a lithium processing mill. Change of CEO as they are going from operator to exploration of their Windarra and other properties.Missed this last week, FPX Nickel announced prioritising critical path activities in preparation for entry into the Provincial and Federal environmental assessment (“EA”) in the first quarter of 2025.