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I don’t believe so, 2 x 1000 buys gone through and 1 x 1000 sell
I done a dummie trade to test and got 3.10 on the offer, not much left on the 3.10 price with the sell price starting to increase from this mornings offer :-)
Nickel US$ 15,545/t vs US$15,385/t yesterday - Nickel is all class but not enough supply
Elon Musk’s call to arms to the nickel mining industry is just the most high profile example of the EV battery market yearning for greater and more secure supply of the metal which is an important component in the EV revolution.
Today stainless steel makes up the majority of demand for nickel, constituting 74% of the market while batteries only make up 5-8% of demand. Batteries however can only be produced using higher purity Class 1 which accounts for only around 46% of the nickel supply market.
As the demand for EVs rises with government policy support and improved battery economics Class 1 demand is set to outstrip supply by 2029 and likely even earlier, perhaps 2024 according to McKinsey. McKinsey forecast EV battery demand for nickel will increase from 33Kt to 570Kt by 2025.
This could lead to a divergence in pricing for the different classes of nickel with class 2 trading at a significant discount to class 1. This bifurcation and the associated environmental problems associated with mining nickel provides an opportunity for certain producers differentiate themselves reports Metal Miner.
Nickel has become a popular component in EV batteries with the proportion of the metal ever increasing, most recent iterations including the NCM 811 with 80% nickel content. Nickel helps deliver high energy density and greater storage capacity at lower cost, often filling in for cobalt which battery producers are seeking to move away from.
Russia, Canada and Australia are the primary sources of nickel with Canadian miners marketing themselves as a green source of nickel to acquire supply contracts with automakers.
With lead times on projects up to 10yrs which coincides with the moment at which demand will outstrip supply, investment is required now and so might be some blue skies for nickel.
With not that many shares in issue, this does seem to have huge potential.
I’m holding out in the hope that my return will come good so fingers crossed all
It appears that MMS are getting desperate for shares given the fact that you can’t buy any without going NT
Southern African Nickel (“SAN”) Joint Venture - South Africa
("SAN") Joint Venture
Zebediela Nickel Project
URU Metals owns 100% of The Zebediela Nickel Sulphide Project following the completion of the acquisition of shares of Umnex Minerals Limpopo (Pty) Ltd ("UML") in April 2014. The project is located in the Limpopo Province of South Africa close to the platinum mining town of Mokopane.
A Preliminary Economic Assessment ("PEA") completed in 2012 reported inferred and indicated resources (Non-JORC) totalling over 1.5 billion tonnes with an estimated Net Present Value of US$317 million and a post-tax IRR of 18.6% (assuming a post-tax discount rate of 10%, nickel price of US$8.50/lb, production of 20,000 tonnes of nickel per year over a 25 year mine life, a total capex cost of US$708 million, and an opex cost of US$3.35/lb Ni).
On commencement of production Zebediela will be the 12th biggest nickel mine in the world and with expansion initiatives at has the potential to become one of the world's top 10. With the scale and attractive economic fundamentals of Zebediela clearly demonstrated, this project will remain a priority focus for URU Metals.