The Conversation (0)
November 27, 2023
Pivotal Metals Limited (ASX:PVT) (‘Pivotal’ or the ‘Company’) is pleased to advise it has received oversubscriptions and firm commitments for a $2.5 million placement (Placement) at $0.016 per share, being a 5.6% discount to the 5 day VWAP. The offer was oversubscribed and scale backs were applied.
Highlights
- Firm commitments for $2.5m Placement received, endorsing the value proposition in Pivotal’s 100% owned Quebec Cu-Ni-PGM projects.
- Placement combined with existing cash to:
- Redeem $1m of convertible notes, which were subject to either discounted conversion, or repayment by 14 March 2024.
- Execute on 2024 exploration work program which includes 8,000 diamond drilling, geophysics, metallurgical testwork and a resource update.
- Fully fund ‘non flow-through’ qualifying expenditure into 2025.
- Introduction of new funds and a strategic high net worth investor.
- All Directors participated in the Placement for a total scaled back allocation of $235k (subject to shareholder approval).
The Company was delighted to work with Morgans Financial Ltd as Lead Manager for the Placement, welcoming new interest in the Company’s assets and endeavours from its extensive client base.
Managing Director, Mr Fairhall said:
“This successful placement sets Pivotal up for an exciting 2024. Early repayment of the convertible note prevents the overhang of dilutive equity conversions, and the decision to replace that note with strong primary equity demand was a purposeful one. Allocation of the Placement was focussed on high-net-worth investors and long-term holders of the Company’s shares, to strengthen the Company’s position and register.
With a very strong balance sheet shareholders now enjoy a cleared path for extensive news flow through 2024, as Horden Lake is drilled and advanced for the first time in over a decade.
We remain very grateful to our loyal shareholders, particularly those that participated in the offer and warmly welcome our new shareholders.”
Catalysts and Work Program
The Company has commenced an extensive work program on its Canadian Cu-Ni-PGM projects, with the majority of focus on its 100% owned Horden Lake project, which already hosts a 28mt at 1.5% CuEq inferred and indicated resource1.
The Horden Lake exploration program is of particular importance, as it represents:
- The first since Pivotal acquired Horden Lake in late-2022 from private ownership,
- The first on the project in over 10 years; and
- The first within an ASX listed company.
Key catalysts over the next 2-3 quarters are as follows:
- 8,000m diamond drilling on Horden Lake, targeting grade and tonnage upside.
- Downhole EM survey at Horden Lake, targeting massive sulphide extensions below open mineralisation.
- Metallurgical testwork to optimise a flowsheet for maximum net smelter return from contained metals.
- Horden Lake resource update.
- Geophysics results from BAGB surveys recently completed, and ongoing interpretation and targeting.
Figure 1: Pivotal Metals work program and news flow timeline
Refer to the Company’s ASX announcement dated 3 October 2023 “Exploration and Development Work Program for Quebec Projects” for additional information.
Placement Details
As of the date of this release, the Company has received firm commitments to a raise $2.5m through the issuance of 156,250,000 new shares at $0.016/share; representing a 5.6% discount to the 5 day VWAP and 20% discount to the last traded share price on 23 November 2023.
The shares will be issued in two tranches. Tranche 1 will comprise the issuance of 132,187,500 shares which fall within the existing capacity under ASX Listing Rules 7.1 and 7.1A, approved at the Company’s AGM on 21 November 2023. Settlement of Tranche 1 is expected to take place on or around 4 December 2023, with allotment and quotation of new shares expected to occur on 5 December 2023.
Click here for the full ASX Release
This article includes content from Pivotal Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
copper explorationnickel investingcopper investingasx:pvtasx stocksnickel explorationnickel stocksNickel Investing
PVT:AU
07 April
Western Mines Completes Maiden Resource for Mulga Tank Nickel Deposit
Western Mines Group (ASX:WMG) has completed the first mineral resource estimate for the shallow disseminated nickel sulphide mineralisation at its flagship Mulga Tank project.
Located on the Minigwal greenstone belt in Western Australia's Eastern Goldfields region, Mulga Tank is a nickel, cobalt, copper and platinum-group metals (PGMs) project.
According to Western Mines, the resource estimate is based on all of its drill results to date, and outlines a "significant mineralised zone" in the main body of the Mulga Tank complex.
The project’s total resource stands at 1,968 million tonnes grading 0.27 percent nickel, 131 parts per million (ppm) cobalt, 82 ppm copper and 17 parts per billion (ppb) platinum and palladium. It has a 0.9 sulphur to nickel ratio.
That breaks down into the following indicated and inferred category numbers:
- Indicated — 565 million tonnes grading 0.28 percent nickel, 134 ppm cobalt, 104 ppm copper, 18 ppb platinum and palladium. A sulpur to nickel ratio of one.
- Inferred — 1,403 million tonnes grading 0.27 percent nickel, 129 ppm cobalt, 73 ppm copper, 17 ppb platinum and palladium. A 0.9 sulphur to nickel ratio.
"Our exploration results from Mulga Tank have been continuously building as we unlock knowledge of the Complex and this Mineral Resource marks a culmination of that," said Wester Mines Managing Director Dr. Caedmon Marriott.
"It demonstrates what we have long stated — that the main body of the Complex hosts a globally significant nickel sulphide deposit, we believe the largest nickel sulphide deposit in Australia and top 10 in the world."
Notable nickel deposits in Australia include mining giant BHP's (ASX:BHP,NYSE:BHP,LSE:BHP) Mount Keith operation at approximately 643.7 million tonnes at 0.58 percent nickel, and Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Murrin Murrin mine, which has an estimated resource base of 268 million tonnes.
Development was halted at Mount Keith following after BHP suspended of its Nickel West operations in October 2024, while Murrin Murrin was reported to produce 34,300 tonnes of nickel in 2024. In total, approximately 110,000 tonnes of nickel were produced in Australia in 2024, 39,000 tonnes less than 2023’s 149,000 tonnes of nickel output.
The Australian government’s March 2025 resource and energy quarterly suggests nickel production could fall further in 2025 on the back of weaker prices for the metal and global oversupply.
Marriott emphasised that Mulga Tank's current resource focuses only on shallow disseminated mineralisation, meaning it could get bigger as the company's work continues, potentially becoming a large open-pit scenario.
“We’ve got more than enough tonnes, and it will get bigger still as we extend in a number of directions. We will continue to infill and upgrade the resource confidence with further drilling," he said.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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04 April
Top 5 Canadian Nickel Stocks of 2025
Nickel prices experienced a volatile year in 2024 on uncertainty on both the demand and supply sides. This trend has continued into the first quarter of 2025 and is expected to remain for the year. While this environment has been tough, some nickel stocks are still thriving.
Supply is expected to outflank demand over the short term, but the longer-term outlook for the metal is strong. Demand from the electric vehicle (EV) industry is one reason nickel's outlook looks bright further into the future.
Battery nickel demand is poised to triple by 2030, according to Benchmark Mineral Intelligence.
“Mid and high level performance EVs will be the primary driver of battery nickel demand growth in the coming years, particularly in Western markets,” said Jorge Uzcategui, senior nickel analyst at the firm. “There will be growth in China, but it won’t be as pronounced as in ex-China markets.”
As for Canada, nickel is listed as a top priority in the government's Critical Minerals Strategy. The country is the world's fifth largest producer of nickel, with much of its production coming from mines in Ontario's Sudbury Basin, including Vale’s (NYSE:VALE) Sudbury operation and Glencore's (LSE:GLEN,OTC Pink:GLCNF) Sudbury Integrated Nickel Operations.
How have Canadian nickel stocks performed in 2025? Below are the top nickel stocks in Canada on the TSX, TSXV and CSE by share price performance so far this year.
All year-to-date and share price data was obtained on March 26, 2025, using TradingView’s stock screener. Canadian nickel stocks with market caps above C$10 million at that time were considered.
1. Power Metallic Mines (TSXV:PNPN)
Year-to-date gain: 40.37 percent
Market cap: C$364.15 million
Share price: C$1.53
Power Metallic Mines, formerly Power Nickel, is developing its 80 percent owned Nisk polymetallic property in Québec, Canada, which hosts high-grade nickel, copper, platinum, palladium, gold and silver mineralization. The polymetallic nature of the project is a plus for the economic case for future nickel production in a low price environment.
The company was recognized as one of the 2024 top 50 performers on the TSX Venture Exchange, ranking as the top mining company and fourth overall company due to posting a 365 percent share price appreciation for the year.
Ongoing work at the Nisk project has generated positive news flow for Power Metallic in 2025. After starting the year at C$1.07, Power Metallic's share price climbed to C$1.49 by January 30 following two key announcements in late January. First, the company released drill results from the 2024 fall campaign on Nisk's Lion zone and the start of its winter 2025 drill campaign. Shortly after, it announced a new discovery 700 meters east from the Lion zone, now named the Tiger zone, which it plans to target as part of its winter drilling.
From there, Power Metallic’s share price jumped more than 26 percent to reach C$1.88 on February 6, its highest point of Q1. This followed further drill results out its 2024 fall campaign with with notable assays further demonstrating the high-grade nature of the mineralization.
Other notable news supporting the company's share price this quarter included the closing of a C$50 million private placement and the plan to scale up its 2025 winter drill campaign from three to six rigs in the second quarter. Additionally, further results from the 2024 fall campaign expanded the Lion zone with the deepest assayed intersection to date, plus initial nickel-copper assays from the new Tiger zone.
2. Magna Mining (TSXV:NICU)
Year-to-date gain: 25.93 percent
Market cap: C$273.59 million
Share price: C$1.70
Magna Mining is a base metal exploration and development company based in Sudbury, Ontario, Canada. The company’s flagship assets are the Shakespeare mine and the Crean Hill project. Shakespeare is a past-producing nickel, copper and platinum group metals mine with major permits in place. It hosts an indicated open-pit resource of 16.51 million metric tons at 0.56 percent nickel equivalent. Crean Hill also hosts a past-producing mine that produced the same resources.
Magna Mining was also included in the 2025 TSX Venture 50 list.
Last year, Magna signed a definitive offtake agreement with Vale Base Metals' wholly owned subsidiary Vale Canada for the advanced exploration portion of Crean Hill, and inked a toll-milling agreement with Glencore Canada for the surface bulk sample of the 109 Footwall zone at Crean Hill. Magna completed an updated preliminary economic assessment at Crean Hill in November.
Magna's share price started off the year at C$1.42, and gradually climbed throughout the following weeks to reach a year-to-date high of C$1.84 on February 5.
Its share price was supported by continued positive updates on its acquisition of a portfolio of base metals assets located in the Sudbury Basin, including the producing McCreedy West copper-nickel mine, through a share purchase agreement with a subsidiary of KGHM Polska Miedz (FWB:KGHA). The company completed the acquisition at the end of February.
Magna also closed a C$33.5 million private placement in early March.
3. Talon Metals (TSX:TLO)
Year-to-date gain: 23.53 percent
Market cap: C$79.45 million
Share price: C$0.105
Talon Metals is focused on developing high-grade nickel resources for the US domestic battery supply chain. The company has partnered with mining giant Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) on the Tamarack nickel-copper project located in Minnesota, US. Talon has an earn-in right to acquire up to 60 percent of Tamarack and currently owns 51 percent. The US Department of Defense awarded Talon a US$20.6 million grant in September 2023.
An environmental review process is underway for the proposed Tamarack underground mine. The company plans to process ore from the mine at a proposed battery mineral processing facility in North Dakota. The company plans to initiate the permitting process for the processing facility in 2025.
Talon has a six year offtake agreement with Tesla (NASDAQ:TSLA) for a total of 75,000 metric tons, or 165 million pounds, of nickel concentrate, as well as cobalt and iron by-products, from the Tamarack project once it's in commercial production.
The company is also the operator of the Boulderdash nickel-copper discovery and numerous high-grade nickel-copper prospects in Michigan, which it optioned to Lundin Mining (TSX:LUN) in early March.
Talon Metal’s share price reached a year-to-date high of C$0.105 on March 26. That day, the company announced a significant massive sulfide discovery at Tamarack with an intercept measuring over 8.25 meters logged as 95 percent sulfide content.
4. Stillwater Critical Minerals (TSXV:PGE)
Year-to-date gain: 16.67 percent
Market cap: C$32.61 million
Share price: C$0.14
Stillwater Critical Metals’ flagship asset is its Stillwater West polymetallic project in Montana, US. In addition to the platinum group elements, copper, cobalt, and gold resources identified on the property, a January 2023 NI 43-101 inferred mineral resource estimate on Stillwater West shows it to have the largest nickel resource in an active US mining district.
Stillwater Critical Metal’s share price reached a year-to-date high of C$0.14 on March 26.
On this day, the company reported multiple large-scale magmatic sulfide targets following analysis of the property-wide third-party MobileMtm magneto-telluric geophysical survey completed in late 2024.
The data from the survey was also used to build a new 3D geological model of the lower Stillwater Igneous Complex that will help the company to further prioritize targets at Stillwater West in an upcoming planned drill campaign.
5. First Atlantic Nickel (TSXV:FAN)
Year-to-date gain: 15.22 percent
Market cap: C$25.22 million
Share price: C$0.265
First Atlantic Nickel is developing its wholly owned Atlantic nickel project in Newfoundland and Labrador, Canada. The large-scale project hosts a naturally occurring nickel-iron alloy that contains about 75 percent nickel with no sulfur or sulfides. Known as awaruite, it is known for its strong magnetic properties. Its also easier and cleaner to separate and concentrate than conventional nickel ores as it can be processed without a smelter.
A series of catalysts in February gave the company’s stock value a boost to the upside. On February 19, it shared that drilling confirmed "the RPM zone extends 400 meters along strike and 500 meters wide, remaining open at depth and along strike to the north and west, indicating significant expansion potential."
Initial Phase 1 assay results from the Super Gulp zone were released on February 26 showing up to 0.32 percent nickel with an average of 0.25 percent nickel over the entire 293.8 meter length. First Atlantic Nickel stated the results confirmed "the presence of a major new nickel zone." That same day, shares in First Atlantic surged to C$0.33.
The next month, on March 4, First Atlantic reported a new discovery at the RPM zone with intersects of 0.24 percent nickel over 383.1 meters, and 10 kilometers downstrike from Super Gulp.
First Atlantic shares reached their highest year-to-date value of C$0.35 on March 13 after the company announced initial metallurgical test results from the first drill hole at the RPM zone. The company said “the results confirm the potential for magnetic separation as a viable processing method for awaruite nickel mineralization previously identified at the RPM Zone.”
FAQs for nickel investing
How to invest in nickel?
There are a variety of ways to invest in nickel, but stocks and exchange-traded products are the most common. Nickel-focused companies can be found globally on various exchanges, and through the use of a broker or a service such as an app, investors can purchase companies and products that match their investing outlook.
Before buying a nickel stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it's critical to complete due diligence before making any investment decisions.
Nickel stocks like those mentioned above could be a good option for investors interested in the space. Experienced investors can also look at nickel futures.
What is nickel used for?
Nickel has a variety of applications. Its main use is an alloy material for products such as stainless steel, and it is also used for plating metals to reduce corrosion. It is used in coins as well, such as the 5 cent nickel in the US and Canada; the US nickel is made up of 25 percent nickel and 75 percent copper, while Canada's nickel has nickel plating that makes up 2 percent of its composition.
Nickel's up-and-coming use is in electric vehicles as a component of certain lithium-ion battery compositions, and it has gotten extra attention because of that purpose.
Where is nickel mined?
The world's top nickel-producing countries are primarily in Asia: Indonesia, the Philippines and Russia make up the top three. Rounding out the top five are Canada and China. Indonesia's production stands far ahead of the rest of the pack, with 2024 output of 2.2 million metric tons compared to the Philippines' 330,000 metric tons and Canada's 190,000 metric tons.
Significant nickel miners include Norilsk Nickel (OTC Pink:NILSY,MCX:GMKN), Nickel Asia, BHP Group (NYSE:BHP,ASX:BHP,LSE:BHP) and Glencore (LSE:GLEN,OTC Pink:GLCNF).
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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14 March
Top 5 Canadian Mining Stocks This Week: Noble Mineral Exploration Gains 114 Percent on Nickel Assays
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
This week, the US Bureau of Labor Statistics released key inflation data, including its consumer and producer price index data on Wednesday (March 12) and Thursday (March 13). The reports show all items inflation was up 2.8 percent year-over-year in February, while core inflation — all items minus food and energy — was up 3.1 percent over that period. Both rose by 0.2 percent compared to January.
The numbers show that inflation has largely become stuck and is still far from the 2 percent target rate set by the US Federal Reserve. The data provides further insight into the health of the overall economy ahead of the Federal Open Market Committee meeting next week. The consensus among analysts is the Fed will choose to maintain its benchmark rate at 4.25 to 5 percent.
Trade tensions between the US and Canada also continued to rise during the week as the US escalated its trade threats against its key trading partners in North America and Europe.
On Tuesday (March 11), temperatures came close to boiling over as Ontario Premier Doug Ford applied a 25 percent surcharge to electricity exports destined for the US and US President Donald Trump threatened to raise incoming 25 percent tariffs on steel and aluminum imports to 50 percent on Canada in response.
However, Ford agreed to suspend the surcharges after US Commerce Secretary Howard Lutnick invited Ford and federal officials to a face-to-face meeting in Washington, DC, on Thursday to discuss the trade situation.
According to Ford, the Thursday meeting was productive and has helped lower some of the tension between Canada and the United States. The two groups are scheduled to meet again next week. Both sides hope that the temperature will be dialed back and trade can begin to normalize between the long-time trade allies.
On Wednesday, US President Trump maintained his decision to apply a blanket 25 percent tariff on all incoming steel and aluminum imports, but did not raise Canada’s to 50 percent. The move will still broadly affect the Canadian industrial sector, which remains the largest exporter of steel and aluminum products to the United States.
Canada responded to the move with tariffs on US$20 billion worth of goods, while the European Union hit back with tariffs on US$28 billion worth of goods.
On Thursday, the president also issued a fresh round of tariff threats aimed at Europe, including a 200 percent tax on alcohol. Trump’s comments came after the EU applied a 50 percent charge on incoming alcohol from the US.
In addition to tariff news, the Trump administration announced plans to roll back 31 environmental policies on Wednesday. The changes by the Environmental Protection Agency include broad loosening or elimination of pollution-related regulations, such as emissions rules for power plants and automobiles that require them to use cleaner forms of energy, and regulations on soot, mercury and coal ash pollution.
The agency is also considering striking down key findings about climate pollution, effectively ending the EPA’s ability to manage climate change.
Markets and commodities react
In Canada, markets were mixed but more positive than those in the US. The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 1.56 percent during the week to close at 621.08 on Friday (March 14), the S&P/TSX Composite Index (INDEXTSI:OSPTX) lost 0.16 percent to 24,556.38 and the CSE Composite Index (CSE:CSECOMP) dropped 1.55 percent to 123.76.
US equity markets were broadly down again this week. The S&P 500 (INDEXSP:INX) lost 1.16 percent to close the week at 5,638.93 and the Nasdaq 100 (INDEXNASDAQ:NDX) fell 0.59 percent to 19,715.71. The Dow Jones Industrial Average (INDEXDJX:.DJI) fell the most, slipping another 2.4 percent to 41,488.18.
Gold broke the US$3,000 mark for the first time in early morning trading Friday, briefly going to US$3,004 before pulling back. Silver also moved above the US$34 mark early Friday for the first time since October 2024. Overall, the gold price gained 2.48 percent over the week to US$2,983.09 per ounce at 4:00 p.m. EST Friday. The silver price rose even more, adding 3.52 percent during the period to US$33.66.
In base metals, the copper price was up 3.61 percent on the week, closing out Friday at US$4.88 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was flat, gaining just 0.06 percent to close at 551.68.
Top Canadian mining stocks this week
So how did mining stocks perform against this backdrop?
We break down this week’s five best-performing Canadian mining stocks below.
Data for this article was retrieved at 4:00 p.m. EST on Friday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered.
1. Noble Mineral Exploration (TSXV:NOB)
Weekly gain: 114.29 percent
Market cap: C$16.61 million
Share price: C$0.075
Noble Mineral Exploration is an exploration and development company that uses a project generator model to build a portfolio of base and precious metals projects, royalties and partnerships.
Noble owns a 20 percent stake in the Mann nickel-cobalt project in Ontario, Canada, a joint venture with Canada Nickel (TSXV:CNC,OTCQX:CNIKF). The property is located near Timmins and hosts four primary targets: Mann North, West, Central and South. In addition to nickel and cobalt, the site also hosts some platinum, chromium and iron mineralization.
On February 24, the company announced that it had finalized an agreement with Canada Nickel to spin off the Mann project into a new subsidiary under Canada Nickel named East Timmins Nickel, which also holds Canada Nickel’s projects in the region. The subsidiary will be a 20/80 joint venture between Noble and Canada Nickel. Noble said that consolidating the properties into a separate company would maximize its value without significant dilution to Noble
Under the deal, Noble also transferred its interest in its Project 81 properties in Northern Ontario to Canada Nickel, retaining a royalty.
Most recently, Noble and Canada Nickel reported successful exploration results from the Mann property on Thursday, including the highest grades yet from the Mann West target. A highlighted assay from the deposit returned 0.27 percent nickel over 452 meters, which included intersections with 0.4 percent over 18 meters and 0.63 percent over 4.5 meters.
Canada Nickel CEO Mark Selby said the targets at Mann “each have a footprint larger than the company’s flagship Crawford Nickel Sulphide Project, underscoring the large-scale potential of the Timmins Nickel District.”
2. Homeland Nickel (TSXV:SHL)
Weekly gain: 100 percent
Market cap: C$11.15 million
Share price: C$0.05
Homeland Nickel is an exploration company working to advance projects in the US and Canada.
The company owns four nickel projects in Oregon: Cleopatra, Red Flat, Eight Dollar Mountain and Shamrock. The projects are in the early exploration stage, with the company being guided by historic work at each property.
Homeland is also working on the Spruce Ridge project in Newfoundland and Labrador, a 30/70 joint venture with Benton Resources (TSXV:BEX,OTC Pink:BNTRF), which earned its stake in the property through an earn-in agreement with Homeland in July 2024.
While the company did not release any news, its shares gained this week following Noble Mineral Exploration and Canada Nickel’s announcement on Thursday of positive assay results from their joint venture Mann nickel project in Ontario. Homeland owns 2.95 million shares in Canada Nickel and 9.96 million shares of Noble.
3. Brunswick Exploration (TSXV:BRW)
Weekly gain: 74.07 percent
Market cap: C$49.07 million
Share price: C$0.235
Brunswick Exploration is a lithium-focused grassroots exploration company working to advance its assets in Canada and Greenland.
The company owns the Mirage lithium project in the Eeyou Istchee James Bay region of Québec, Canada, as well as several exploration licenses in Greenland, with hundreds of staked and untested targets across the island.
The company announced on Thursday that it has identified new high-potential lithium targets and applied for a mineral license to cover them. Named Hinksland, the license covers a five-block claim located near the country’s northeast coast. The company has mapped 50 interpreted outcrops at Hinksland, nine of which are between 500 and 10,000 feet of strike.
Brunswick said it intends to visit the region in 2025. In the release, the company also said it expects first results from its ongoing drill program at Mirage will be released in the next few weeks.
4. Bayhorse Silver (TSXV:BHS)
Weekly gain: 50 percent
Market cap: C$18.4 million
Share price: C$0.06
Bayhorse Silver is a silver-focused company currently working to bring the Bayhorse silver, copper and antimony mine in Oregon, US, back online.
The mine was originally in operation until late 1984 and closed when the price of silver dropped to under US$6 per ounce. Historic sampling during the 1980s identified grades of 2,146 grams per metric ton (g/t) silver, and a bulk sampling program conducted by Bayhorse in 2014 found bonanza grades of 150,370 g/t silver.
The company has continued to explore the property and, in October 2018, produced a maiden resource estimate that showed the property hosts inferred resources of 6.33 million ounces of silver from 292,300 US tons of ore with an average grade of 21.65 ounces per US ton.
The most recent update came on March 4, when Bayhorse announced it had received assay results from the first 115 meters of the silicified breccia zone encountered in a drill hole used to test an anomaly at the mine. The company said that the 115 meter intersection showed continuous copper up to 125 parts per million (ppm), zinc up to 695 ppm and intermittent gold up to 0.023 ppm.
The company also shared preliminary IP survey results from the project.
Bayhorse CEO Graeme O’Neill commented that he was encouraged by the results and they may indicate the presence of massive sulfides and copper porphyry. The company said it is waiting on results from a further 112 meters of samples from the brecciation zone.
5. Pacific Booker Minerals (TSXV:BKM)
Weekly gain: 43.86 percent
Market cap: C$12.11 million
Share price: C$0.82
Pacific Booker Minerals is an exploration and development company focused on its Morrison property, located in Central British Columbia, Canada. The site is in the advanced stages of development and hosts copper, gold and molybdenum mineralization. The company has been working on development plans since 2004, and completed a feasibility study in 2009. However, work hasn’t been able to proceed as it needs approval from the nearby Lake Babine Nation.
In May 2024, Pacific Booker announced it would be seeking legal recourse after communications between itself and Lake Babine Nation broke down. The company indicated it had received a memorandum of understanding from Lake Babine Nation in 2012, but legal counsel for the nation has refuted that the understanding was in existence and an environmental assessment certificate for Morrison was refused in 2012.
Shares of Pacific Booker saw gains this week, but the company has not released further news.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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27 February
Tartisan Nickel Corp. Completes Initial Data Interpretation from the Airborne EM26 Survey, Turtle Pond Knight Danger Nickel-Copper-Platinum Project
Tartisan Nickel Corp. (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA)("Tartisan" or the "Company") is pleased to announce that the Company has completed the data acquisition and initial interpretation from a Helicopter-Borne Target EM26 Magnetic and VLF Geophysical Survey on the Turtle Pond Knight Danger ("Turtle Pond") nickel-copper-platinum property near Dryden, Ontario. The survey was intended to search for mineralization that is associated with magnetic anomalies from the presence of pyrrhotite and chalcopyrite host rocks.
The airborne magnetic survey, conducted by Expert Geophysics Limited, collected electromagnetic and magnetic data using a cesium vapor magnetometer in a separate towed- bird for collecting measurements of the intensity of the earth's magnetic field to provide detailed insights into the geological features of the Turtle Pond property. Initial results indicate promising anomalies that may correlate with the presence of Nickel, Copper, and PGE mineralization. Additional geophysical interpretation and integration of previous geophysical data from Turtle Pond is underway which will help the Company to fully understand the implications of these findings and to refine exploration strategies moving forward in 2025.
"Our team is excited about the preliminary results of the magnetic survey which suggests that Turtle Pond has potential for significant mineral deposits including PGM's," said Mark Appleby, CEO of Tartisan Nickel Corp. "Next steps involve an in-depth interpretation of the data to identify drill targets and enhance our understanding of subsurface geology. This survey represents a significant step forward in the exploration and evaluation of the property's mineral potential."
The Turtle Pond Property is strategically located in a region known for its mineral deposit potential, and Tartisan Nickel Corp. remains optimistic about the potential for economic mineralization. The results from the magnetic survey will be integrated with existing geological and previous drill and assay data to support our ongoing exploration efforts.
Tartisan Nickel Corp. is committed to a thorough and responsible exploration process, prioritizing environmental stewardship and community engagement. The company will continue to collaborate closely with local stakeholders as it progresses with exploration initiatives.
An Assessment Report on the Turtle Pond Knight Danger Property has been filed.
Additionally, Tartisan Nickel Corp. will host Booth 3035 at the Prospectors and Developers Association of Canada, March 2nd to 5th, 2025, Toronto Convention Centre, Ontario. We look forward to sharing the Tartisan story and connecting with investors.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company which owns; the Kenbridge Nickel-Copper Project in Northwestern Ontario; the Sill Lake Silver Property in Sault Ste. Marie, Ontario as well as the Turtle Pond Knight Danger Project in Northwestern Ontario.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQB: TTSRF) (FSE: 8TA). Currently, there are 130,995,782 shares outstanding (137,784,671 fully diluted).
Dean MacEachern P.Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company's website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
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20 February
Chalice Mining Makes Metallurgical "Breakthrough" at Gonneville Project
Chalice Mining ( ASX:CHN,OTC Pink:CGMLF) said on Monday (February 17) that it has made an important metallurgical breakthrough at its Gonneville projected, located in Western Australia.
The company said a hydrometallurgical process for nickel concentrate is no longer needed, as recent testwork results confirm that two saleable, smelter-grade flotation concentrates can be produced across the entire sulphide resource.
Managing Director and CEO Alex Dorsch said in a press release that this new information "materially reduces" capital and operating costs for Gonneville, also substantially reducing technical risk and process complexity.
Gonneville was discovered by Chalice geologists in 2020, and is wholly owned by Chalice Mining. The company says it is the first discovery of its kind in Australia, hosting palladium, platinum, nickel, copper and cobalt.
In 2024, the discovery was the recipient of two major project status honours, one from Western Australian Premier Roger Cook in September, and another from Commonwealth Minister for Industry and Science Ed Husic in October.
These recognitions underscore the project’s role in Australia’s future critical minerals ambition.
Chalice is currently working on a prefeasibility study for Gonneville, and said testwork and optimisation will continue through the first quarter. Prefeasibility work began in 2023, with completion targeted in mid-2025.
In July 2024, Chalice signed a non-binding strategic memorandum of understanding with Mitsubishi (TSE:8058).
The company said at the time that this arrangement will be beneficial to the project, allowing for collaboration on marketing and offtake solutions and improvements in optimization for Gonneville.
Under Australia's newly legislated Critical Minerals Production Tax Incentive, the project may receive a 10 percent tax offset for its carbon-in-leach leaching, which qualifies as an eligible expenditure.
Shares of Chalice rose as high as AU$1.60 after the news on Monday, but pulled back later in the week.
Chalice said it is well positioned moving forward, with AU$90 million in cash and listed investments.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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19 February
Anglo American to Sell Nickel Business to MMG for Up to US$500 Million
Anglo American (LSE:AAL,OTCQX:AAUKF) has agreed to sell its Brazil nickel operations to MMG Singapore Resources, a subsidiary of MMG (OTC Pink:MMLTF,HKEX:1208), for a cash consideration of up to US$500 million.
According to a Tuesday (February 18) press release, the transaction includes Anglo American’s Barro Alto and Codemin ferronickel operations, along with two development projects, Jacaré and Morro Sem Boné.
The purchase price comprises an upfront payment of US$350 million, a potential price-linked earnout of up to US$100 million and a further US$50 million contingent on a final investment decision for the development projects.
The transaction remains subject to regulatory and competition approvals, with completion expected by Q3 2025.
Anglo American Chief Executive Duncan Wanblad said the sale is a key milestone in furthering the company’s restructuring strategy, which involves divesting certain assets to focus on copper, premium iron ore and crop nutrients.
“Today’s agreement, together with those signed in November 2024 to sell our steelmaking coal business, is expected to generate a total of up to US$5.3 billion of gross cash proceeds, reflecting the high quality of our steelmaking coal and nickel businesses,” Wanblad explained, adding that the company sees MMG as a safe and responsible operator.
MMG Chief Executive Cao Liang described the acquisition as a strategic move to diversify the company’s asset base and expand its presence in Latin America, highlighting MMG’s longstanding collaboration with Anglo American.
Anglo American’s nickel operations serve both the stainless steel and battery sectors, and Barro Alto is the only nickel mine globally that is certified by the Initiative for Responsible Mining Assurance.
Together, the company's assets produced 39,400 metric tons of nickel in 2024.
Since last year, Anglo American has been refocusing to concentrate on key commodities while divesting non-core assets.
As mentioned, in November 2024, it reached agreements to sell its steelmaking coal business.
Anglo American has also announced plans to divest its De Beers diamond unit, and is proceeding with the planned demerger of its platinum operations, which is expected to be completed by June 2025.
Platinum remains key for the automotive industry, and despite growing demand for electric vehicles, which do not use platinum-group metals, the company believes supply constraints in South Africa could support future pricing.
Anglo American will retain a 19.9 percent stake in the demerged platinum unit, but will not have board representation. The company has stated that it intends to gradually reduce its stake over time.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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