oh dear20 Mar 2018 12:21
Meanwhile Amur Minerals have also been charging ahead � up 0.9p at 5.5p � after it announced nickel resource at its Kun-Manie project in Russia had been boosted by 50%.
Kun-Manie is the largest undeveloped nickel sulphide project in the world.
Shares are up 18% at 5.4p.
Here's some caution from Yuen Low at Shore Capital Markets who has poured some water over the flames: "We note that Amur is now attempting to position itself as a ready source for EV battery market participation.
"However, in our view, nickel developers with sulphide deposits such as Amur are not as directly connected to the EV battery market as those intending to produce sulphate or hydroxide products from laterite deposits."
He continues: "The likes of Amur will most likely have to produce and sell sulphide flotation concentrates to companies with matte smelters such as Norilsk.
"It would be the likes of Norilsk (for argument�s sake) that would then refine the resulting nickel matte to cathode (for stainless steel) or powder (for batteries) and that we believe would therefore capture the lion�s share of any battery premia.
"Of course, Amur could opt to build its own smelting and refining facilities, but the very high costs would likely be prohibitive and returns on capital poor, we believe."