
July 05, 2024
Adavale Resources Limited(ASX:ADD) (“Adavale” or “the Company”) is pleased to advise that the Stage 1 ‘Luhuma’ Farm-In consideration comprising US$12,500 cash per licence and 1,778,458 fully paid ordinary shares to the value of US$25,000 per licence has been paid and issued to the Vendor.
Highlights
- Conditions precedent now met and provides Adavale immediate and exclusive rights to explore and evaluate the Luhuma licence area for 12months1
- Staged Farm-In consideration US$12.5k cash and US$25k of Adavale shares per licence paid and issued toVendor1
- Ground based surveys and exploration on Luhuma Licence area (~99sqkms) adjacent to Adavale’s Kabanga NE licences proceeding
- Total exploration area for Adavale’s nickel sulphide exploration potential now extended to cover~1,243sq kms
- Interest being generated from BHP’s recent strategic investment in adjacent Licence holder’s Nickel project
Adavale Executive Director, David Riekie commented:
“This is a great outcome for Adavale as the exclusive access to explorethe Luhuma Licences is considered a key addition to Adavale’s immediate and medium term explorationstrategy.
The Luhuma Farm-In Licences are considered very prospective as they containtheLuhumaintrusion,aknownmineralisedintrusion,enablingusto extend our exploration footprint to capture the area which includes the 8km Luhumacorridor.
This “corridor” was identified as part of our 2021 exploration program and will feature heavily in our 2022 exploration program.
Our current ground based exploration surveys including soil sampling, DHEM and gravity surveys have recommenced. Ground based or airborne Electromagnetic (EM) surveys will also feature in the target generation and refinements for our future drilling programs."
Click here for the full ASX Release
This article includes content from Adavale Resources, 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.
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25 February
Adavale Resources
Investor Insight
Adavale Resources’ transformative January 2025 acquisition of gold and copper assets in the prolific Lachlan Fold Belt in New South Wales puts the company on a growth trajectory, presenting a compelling investment opportunity for savvy investors.
Overview
Adavale Resources (ASX:ADD) is a dynamic junior exploration company primarily focused on its flagship gold and copper projects in New South Wales (NSW), within the prolific Lachlan Fold Belt. This portfolio spans 354.15 sq kmand comprises four tenements: EL7242, EL8830, EL8831 and EL9711. The acquisition of these assets represents a transformational opportunity, strategically positioning Adavale Resources in one of the world’s richest gold and copper belts.
Parkes Project in the Lachlan Fold Belt
In addition to gold and copper, Adavale boasts extensive uranium assets in South Australia and nickel projects in Tanzania. These diversified holdings place the company at the forefront of exploration across commodities critical for global industrial and technological advancement.
Adavale Resources is poised for significant growth as it advances its gold and uranium projects through strategic drilling programs in 2025. With a robust exploration pipeline, world-class assets in tier-one jurisdictions, and a leadership team aligned with shareholder interests, the company is well-positioned to capitalise on favourable commodity trends.
Company Highlights
- A junior explorer, with projects in tier-one jurisdictions; focused on gold and copper, Adavale also holds valuable uranium and nickel licences .
- The January 2025 acquisition of the Parkes project in the Lachlan Fold Belt, spanning 354.15 sq km, strategically positions Adavale to expand on the historic orogenic gold resource (124 koz gold) and make a major epithermal and/or porphyry gold and copper discovery in this tier-1 mining jurisdiction. The Lachlan Fold Belt assets are strategically located near world-class mining operations, including Cadia, Northparkes and Cowal.
- The company’s extensive uranium tenements span 4,959 sq km across the Flinders Ranges and Eyre Peninsula, regions known for hosting tier-one uranium deposits.
- Adavale’s nickel projects in Tanzania’s East African Nickel Belt are strategically located adjacent to the Kabanga nickel project — the world’s largest undeveloped high-grade nickel sulphide deposit.
- Drilling and resource-definition programs in 2025 will target key gold, copper and uranium assets, building on the company’s diversified growth strategy.
Key Projects
Gold and Copper – Lachlan Fold Belt, NSW
Adavale Resources recently acquired a 72.5 percent interest in the Parkes project, located in the highly prospective Lachlan Fold Belt of New South Wales. Adavale’s flagship project encompasses 354.15 sq km across four tenements in the Lachlan Fold Belt, a region that has produced over 80 million ounces (Moz) of gold and 13 million tonnes (Mt) of copper historically. The London-Victoria gold mine (EL7242) is a cornerstone of this portfolio, with historical production of 200,000 ounces of gold at an average grade of 2 grams per ton (g/t). London-Victoria (EL7242) also recently received a successful renewal until November 2030.
Exploration activity in 2024 included diamond drilling, which intersected a 12-meter-thick zone of quartz-carbonate veining and shearing, consistent with high-grade mineralisation seen in historical operations. Assay results from this program are pending and expected to provide critical insights for resource expansion.
In addition to the London-Victoria gold mine, the Ashes Prospect (EL8831) has returned high-grade rock chip samples, including results of 8.8 g/t gold and 5.5 percent copper. Similarly, the Birthday mine (EL8830) boasts historical grades averaging 11 g/t gold. The 2025 exploration strategy focuses on resource definition and advancing London-Victoria to JORC-compliant status, testing extensions, and unlocking additional mineralised zones at these prospects, supported by advanced geophysical and geochemical surveys.
Uranium – South Australia
Adavale holds 4,959 sq kmof uranium-rich tenements across the highly prospective Flinders Ranges outwash and Eyre Peninsula, regions known for hosting tier-1 uranium deposits. Historical drilling has revealed promising results, including intercepts of 1 metre at 263 parts per million (ppm) eU3O8 and 0.65 meters at 235 ppm eU3O8. These results underscore the region’s potential to host significant uranium resources.
The company is advancing its maiden 2,000 metre air core drilling program in Q1 of 2025, targeting paleochannel extensions and uranium redox boundaries, which have been identified through advanced geophysical surveys. Adavale’s uranium portfolio is particularly well-positioned to benefit from increasing global demand for uranium, driven by geopolitical factors, rising nuclear energy investment globally, and surging prices, which reached $106/lb in early 2024.
Nickel – East African Nickel Belt, Tanzania
Adavale’s nickel portfolio includes 1,315 sq km across 12 highly prospective exploration licences in Tanzania’s East African Nickel Belt. It is strategically located next to and along strike of the world-class Kabanga nickel project — the world’s largest undeveloped high-grade nickel sulphide deposit. Recent exploration at the Luhuma Central prospect has confirmed nickel sulphides in all five drill holes completed, with mineralisation trends extending southwest.
The company employs a combination of geophysical methods, including gravity, magnetics and Heli-EM surveys, to refine its understanding of subsurface structures and identify high-priority drill targets. Adavale’s ongoing exploration in this globally significant nickel belt is expected to build on recent successes, advancing resource definition and project development, making the company well-positioned to make a significant contribution to the global demand for battery metals.
Leadership Team
Allan Ritchie - Executive Chairman and CEO
Allan Ritchie is a seasoned executive with more than 30 years of experience in corporate finance and resource management, including as director and officer of ASX and HK listed companies. Ritchie’s distinguished career spans both the energy, resources, and investment banking sectors, and includes leadership roles in both private and publicly listed companies.
Ritchie has served as non-executive director of ASX listed Hydrocarbon Dynamics (ASX:HCD), and executive director and deputy CEO of HK listed energy group, EPI Holdings (0689.HKEX).
Ritchie’s investment banking background includes structuring commercial transactions in the energy and resources sector. Senior roles include positions within Westpac, ANZ Bank, HSBC and BNP Paribas in Australia, London, New York and Asia Pacific. His investment banking achievements have been recognised several times at the top of BRW’s annual poll of bankers.
Ritchie graduated from the University of Technology in Sydney in 1986 with a Bachelor of Business and subsequently attained a post graduate diploma in Applied Finance from the Financial Services Institute of Australia.
John Hicks - Non-executive Director
John Hicks is a qualified geologist with over 40 years’ experience in exploration and mining in Australia. John is regarded as a nickel sulphide specialist, having held various senior exploration and development roles on several major nickel sulphide projects in Western Australia.
For the previous 15 years, Hicks was the general manager of exploration at Panoramic Resources (ASX:PAN), where he was instrumental in the discovery of the komatiite hosted Deacon and Lower-Schmitz orebodies at Lanfranchi and the intrusive hosted Savannah North nickel orebody in Western Australia. Hicks was also a key member of the team responsible for taking these discoveries through to final investment decisions.
Prior to joining Panoramic, Hicks held various roles with several notable mining companies including Australian Consolidated Minerals and WMC Limited where he worked on the Mount Keith nickel project. As an independent geological consultant between 1998 and 2005, he was involved with the Cosmos and the Honeymoon Well nickel projects.
Maurice (Nic) Matich - Non-executive Director
Maurice (Nic) Matich is a mechanical engineer and finance professional with over 17 years’ experience in the resources sector. His wide industry experience includes the provision of engineering, risk consulting and insurance services to numerous tier-1 mining companies with operations in lithium, iron ore, mineral sands, gold and kaolin.
Matich previously served as managing director of Pinnacle Minerals (ASX:PIM) and executive director of Heavy Minerals (ASX:HVY), delivering both a maiden resource and scoping study (NPV8 $253M) for the Port Gregory project.
He holds a Bachelor of Engineering with Honours, Bachelor of Science (Phys/IT) and a graduate diploma in Applied Finance and is a graduate of the AICD.
Leonard Math - CFO & Company Secretary
Leonard Math is a chartered accountant with extensive experience managing financial operations for ASX listed resources companies. He graduated with a Bachelor of Business (double major in accounting and information systems) from Edith Cowan University in 2003 and became a chartered accountant in September, 2008. He has held multiple director, CFO and company secretary roles in the resources sector, most recently with Summit Minerals (ASX:SUM).
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Unlocking gold and copper in a Tier-1 mining jurisdiction, alongside a portfolio of uranium and nickel projects well positioned for the future.
09 April
Parkes Project Advances in Central NSW Lachlan Fold Belt
23 March
Completion of Geochemical Survey at Ashes & Myalls
02 March
Geochemical Survey Commences at Ashes & Myalls Prospects
Adavale Resources (ADD:AU) has announced Geochemical Survey Commences at Ashes & Myalls Prospects
25 February
High-Grade Gold, Copper and Silver Rock Chips at Ashes
16 April
Top 3 ASX Nickel Stocks of 2025
With its diverse applications in both technology and industry, nickel is a metal that will never go out of style.
Nickel is commonly used in alloys to create stainless steel, but more recently has found a modern use: batteries. As the electric vehicle trend gains steam, the base metal is in high demand for its role in lithium-ion batteries.
Nickel has encountered much volatility in the past few years. After spiking to record highs in 2022, the nickel price has been on a downward trend on oversupply from top-producing country Indonesia and economic uncertainty dampening demand.
Tariffs could further disrupt the nickel market going forward, but whether that's to the upside or the downside remains to be seen.
Against that backdrop, some Australian nickel companies are still making moves. Here the Investing News Network has listed the top nickel stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener on April 9, 2025, and all companies had market caps above AU$5 million at that time. Read on to learn more about them.
1. Nordic Resources (ASX:NNL)
Year-to-date gain: 43.75 percent
Market cap: AU$17.51 million
Share price: AU$0.12
Nordic Resources is advancing exploration on its Pulju nickel-copper-cobalt project in Northern Finland, which hosts a near-surface JORC-compliant resource with the potential to produce class 1 nickel and battery materials for European markets.
The 2024 JORC mineral resource estimate is contained within the Hotinvaara deposit. The deposit hosts indicated resources of 42 million tonnes at 0.22 percent nickel for 92,700 tonnes of contained nickel, as well as inferred resources of 376 million tonnes at 0.21 percent nickel for 770,100 tonnes of contained nickel.
In January, Nordic picked up an additional three exploration licenses in the region to bring the size of the landholdings for the project to 46 square kilometres. This gives the company "full exploration rights over 12 kilometers of continuous strike within the known, mapped Mertavaara Formation."
Shares in Nordic Resources hit a year-to-date high of AU$0.12 on April 9, days before the company announced a large-scale acquisition of three Finnish gold projects.
2. Pivotal Metals (ASX:PVT)
Year-to-date gain: 42.86 percent
Market cap: AU$8.17 million
Share price: AU$0.010
Pivotal Metals is an exploration and development-stage company has two properties in Québec, Canada: the Belleterre-Angliers Greenstone Belt (BAGB) project and its flagship advanced-exploration Horden Lake project. Both properties contain copper, nickel and platinum group metals mineralization.
Horden Lake hosts a JORC-compliant indicated and inferred mineral resource estimate of 27.8 million tonnes at 1.49 percent copper equivalent, comprising copper, nickel, palladium and gold.
Pivotal announced its 2025 field programs at both properties in February. At Horden Lake, the company announced plans for 1,500 meters in diamond drilling along with the final stages of metallurgical test work to update the resource estimate.
At BAGB, the company is assessing targets for its planned Q2 field program across three project areas. According to the company, the "targets leverage extremely high-grade Ni-Cu-PGM from historical drilling on each project, as well as known high grade gold and VMS potential.
Shortly after, Pivotal announced that its fixed loop time domain electromagnetic (FLTEM) survey at Horden Lake defined large undrilled conductors extending along strike and down plunge of the deposit.
The company released metallurgical test results from Horden Lake in March that demonstrated total copper recoveries of 87 to 94 percent with clean copper concentrates produced that grading 22 to 28 percent copper. In addition, the test work produced high-grade clean nickel concentrates grading approximately 12 percent nickel with the potential for nickel recoveries exceeding 50 percent at expected resource sulphur grades.
Step-out drilling at Horden was completed in early April and assay results are expected to be published in Q2 2025. Shares in Pivot started the year at AU$0.007 and hit a year-to-date high of AU$0.01 on April 9.
3. Ardea Resources (ASX:ARL)
Year-to-date gain: 7.94 percent
Market cap: AU$75.88 million
Share price: AU$0.365
Ardea Resources is developing its wholly owned Kalgoorlie nickel project (KNP) in Western Australia, which includes the Goongarrie Hub deposit. The company has said the project “hosts the largest nickel-cobalt resource in the developed world.” It is currently working towards a planned definitive feasibility study (DFS).
A 2023 prefeasibility study for the KNP Goongarrie Hub shows an ore reserve of 194.1 million tonnes at 0.7 percent nickel and 0.05 percent cobalt, resulting in 1.36 million tonnes of contained nickel and 99,000 tonnes of contained cobalt. The study indicates an open-pit operation with a 40 year life and annual output of 30,000 tonnes of nickel and 2,000 tonnes of cobalt.
In February 2024, Ardea shared that Sumitomo Metal Mining Co. (TSE:5713) and Mitsubishi (TSE:8058) had agreed on AU$98.5 million in funding and a scope of work for the KNP Goongarrie Hub DFS.
In its quarterly operations report for the quarter ended 31 December 2024, Ardea provided an update on the progress it's making toward completing the DFS. This includes bench-scale metallurgical testing, process plant development, geology and resource workflows. The news, released on January 28, helped boost the company's stock price by 14 percent to AU$0.40 per share on January 28.
The following month, Ardea announced that it had awarded the hydrogen sulphide plant work package to engineering services firm Lycopodium. The plant will be used to precipitate mixed sulphide precipitate, which is a high purity nickel and cobalt sulphide product. MHP is a precursor for the production of electrolytic nickel, nickel powder and nickel sulphate for the battery industry.
Shares in Ardea reached a year-to-date high of AU$0.48 on February 24.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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14 April
Ni-Co Energy: Advancing a Strategic Nickel-Copper-Cobalt Project in Quebec
Ni-Co Energy is a Canadian mineral exploration company advancing the discovery and development of critical metals—particularly nickel, copper, and cobalt. Headquartered in Gatineau, Quebec, the company is focused on the underexplored yet highly prospective Grenville geological province, known for its potential to host mineral-rich systems.
Through its 100 percent-owned project in Quebec, Ni-Co Energy offers investors direct exposure to high-demand critical minerals. The project benefits from strong early-stage drill results, excellent infrastructure access, and a clear path to discovery in a geopolitically stable, mining-friendly jurisdiction.
The 100 percent-owned Kremer Project is Ni-Co Energy’s flagship exploration asset and a clear reflection of the company’s strategy to unlock critical mineral resources in geologically prospective yet underexplored regions. Located just 90 kilometers from downtown Montreal and 15 kilometers northwest of Saint-Côme, the Kremer property benefits from exceptional accessibility and established infrastructure—key advantages that enhance its potential as a high-impact, early-stage exploration project.
Company Highlights
- Ni-Co Energy targets high-demand metals essential to the energy transition: nickel, copper and cobalt, with applications in EV batteries, energy storage and electrification infrastructure.
- The flagship Kremer project is a 100 owned, 15,375-hectare property located 90 km to the north from downtown Montreal (but 15 km away from the nearest town) in the highly prospective Grenville Geological Province in Quebec.
- Early-stage Discovery Potential: Multiple massive and semi-massive sulfide intercepts confirmed in 2023 drilling campaign with grades up to 1.73 percent nickel and 0.85 percent copper over 2.95 meters. This campaign consisted of 22 holes and 4,200 meters; ~41 percent of the drilled holes intersected sulfides.
- Airborne and ground EM surveys revealed an 8-kilometer-long EM conductor corridor, with overlapping gravity and MAG anomalies, and multiple surface showings.
- The project is road-accessible year-round via Route 347 and forestry roads, with power lines nearby and proximity to regional mining services.
- A two-phase, C$2 million exploration program planned for 2025, including an 8000-meter drilling campaign along with borehole TDEM focused on high-priority geophysical and geochemical targets.
This Ni-Co Energy profile is part of a paid investor education campaign.*
Click here to connect with Ni-Co Energy to receive an Investor Presentation
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10 April
Ni-Co Energy
Investor Insight
Ni-Co Energy offers investors exposure to high-demand critical minerals through a strategically located, 100 percent owned nickel-copper-cobalt project in Quebec, with strong early-stage drill results, exceptional infrastructure access, and a clear path to discovery in a geopolitically stable jurisdiction.
Overview
Founded in 2023, Ni-Co Energy is a Canadian mineral exploration company focused on the discovery and development of critical metals, with a particular emphasis on nickel, copper and cobalt. Headquartered in Gatineau, Quebec, the company is actively exploring within the Grenville geological province — a region historically underexplored but considered highly prospective for mineral-rich systems.
Ni-Co Energy’s strategy is rooted in the growing global demand for clean energy technologies, which are placing unprecedented pressure on the supply of battery and electrification metals. Nickel is a core component of high-energy-density battery chemistries used in electric vehicles (EV); copper is vital for electrical transmission, grid expansion and renewable power infrastructure; and cobalt enhances battery stability and longevity. As economies push toward net-zero targets and EV adoption scales globally, secure, ethical and local supply chains for these metals have become a geopolitical and economic priority.
Ni-Co Energy’s focus on magmatic massive sulfide style deposits is one of its unique value propositions. These deposits are among the most economically significant sources of base metals worldwide. The systems are known for forming high-grade, multi-metallic ore bodies containing copper, zinc, lead, gold, silver and, crucially for Ni-Co Energy’s portfolio, nickel and cobalt. These types of deposits tend to occur in clusters and can support scalable, long-life mining operations with strong by-product credits, enhancing overall project economics. Discovering and advancing a deposit gives Ni-Co Energy a competitive edge in tapping into premium metal markets where supply is tightening.
With a clear focus on modern geophysical tools and systematic exploration, Ni-Co Energy is positioning itself to become a key player in the Canadian critical minerals sector — delivering value not only through discovery, but by aligning with the broader shift toward decarbonization and supply chain resilience.
Company Highlights
- Ni-Co Energy targets high-demand metals essential to the energy transition: nickel, copper and cobalt, with applications in EV batteries, energy storage and electrification infrastructure.
- The flagship Kremer project is a 100 owned, 15,375-hectare property located 90 km to the north from downtown Montreal (but 15 km away from the nearest town) in the highly prospective Grenville Geological Province in Quebec.
- Early-stage Discovery Potential: Multiple massive and semi-massive sulfide intercepts confirmed in 2023 drilling campaign with grades up to 1.73 percent nickel and 0.85 percent copper over 2.95 meters. This campaign consisted of 22 holes and 4,200 meters; ~41 percent of the drilled holes intersected sulfides.
- Airborne and ground EM surveys revealed an 8-kilometer-long EM conductor corridor, with overlapping gravity and MAG anomalies, and multiple surface showings.
- The project is road-accessible year-round via Route 347 and forestry roads, with power lines nearby and proximity to regional mining services.
- A two-phase, C$2 million exploration program planned for 2025, including an 8000-meter drilling campaign along with borehole TDEM focused on high-priority geophysical and geochemical targets.
Key Project
Kremer Project
The 100 percent owned Kremer project is Ni-Co Energy’s flagship exploration asset and a prime example of the company’s focus on uncovering critical mineral resources within geologically favorable but underexplored regions. Located approximately 90 kilometers from downtown Montreal and about 15 km northwest of Saint-Côme, the Kremer property enjoys excellent accessibility and infrastructure — a significant advantage for an early-stage exploration project.
The project comprises 233 mining claims covering 15,375 hectares, within the Grenville geological province, an area known for its potential to host nickel-copper-cobalt magmatic sulfide systems, particularly along the margins of a large anorthosite intrusion. The property benefits from its proximity to paved highways, well-maintained logging roads, powerlines and skilled labor pools. These logistical advantages significantly reduce exploration costs and timelines while positioning the project favorably for future development and potential production scenarios.
Geological Characteristics and Exploration History
The property is underlain primarily by paragneiss rocks of the Grenville province and lies near the Morin Anorthosite Complex, a large intrusive body known to host iron-titanium-vanadium and nickel-copper-cobalt mineralization. Historical grab samples from around the “Lac à la Mélasse” area have returned values up to 3,547 parts per million (ppm) nickel, 1,107 ppm copper, and 924 ppm cobalt, supporting the district's critical mineral potential
In 2021 and 2022, Ni-Co Energy completed airborne magnetic and time-domain electromagnetic (TDEM) surveys, covering 1,659 line-kilometers. These surveys identified numerous EM conductors, particularly concentrated in the northwestern sector of the property. A ground gravity survey conducted in 2024 detected multiple weak to moderate positive anomalies, suggesting the presence of sulfide-rich bodies or lenses that could host nickel-copper-cobalt mineralization.
The company’s 2023 maiden diamond drilling campaign included 22 drill holes totaling 4,201 meters. Of these, a significant proportion intersected massive (>50 percent) and semi-massive (<50 percent) sulfide mineralization. Highlights include:
- DDH 20-2023: 1.73 percent nickel, 0.85 percent copper over 2.95 meters
- DDH 04-2023: 1.58 percent nickel, 0.42 percent copper over 2.70 meters
- DDH 21-2023: 1.46 percent nickel, 0.71 percent copper over 1.80 meters
Advancements and Future Prospects
In 2024, Ni-Co Energy deployed a suite of advanced geophysical tools, including drone-based magnetics, ground gravimetric surveys, and borehole TDEM, to sharpen its geological targeting. These efforts identified two major mineralized zones:
Northwest Zone: This drilled zone features continuous surface mineralization extending over 700 meters, exposed every 25 to 50 meters, with blown trenching done at two places up to 1 meter deep to verify mineral continuity.
Southeast Zone: A newly uncovered area approximately 7 km from the current drilling site, exhibiting fresh nickel-copper-cobalt mineralization indices and offering substantial exploration upside.
Ground EM, MAG and gravity surveys are overlapping in the central 3-km long zone. This highly prospective area is believed to host a mafic intrusion buried at shallow depth and will be drill tested during the 2025 program. Ni-Co Energy also intends to do some step-out drilling in the already drilled northwest zone to confirm mineralization extent.
With infrastructure in place and geophysical indicators pointing to scale, the Kremer project offers a compelling combination of accessibility, geological potential and alignment with critical mineral supply priorities.
For 2025, Ni-Co Energy plans to implement a two-phase exploration program with a combined budget of over C$2 million. The programs includes follow-up drilling based on overlapping structural, geophysical, and geochemical anomalies
Management Team
Alain Tremblay – Founder, President and CEO
Alain Tremblay is a seasoned entrepreneur and mining exploration leader. With 30 years of experience as a professional pilot, he has combined his aviation expertise with his passion for resource exploration. As the founder of Prospectair Geosurveys, he provided airborne geophysical survey services to the mining sector for over 20 years. Notably, he was instrumental in the discovery of a major graphite deposit in the Grenville geological province of southern Québec. His leadership and innovative approach have been pivotal in advancing resource exploration and development across Canada.
Marc Boivin – VP Exploration
Marc Boivin is a geologist specialized in exploration geophysics. He has been operating his own consulting firm, MB Geosolutions, since 2006. Previously, he was chief geophysicist at SOQUEM for 14 years. He received his BSc in Geology at UQAM in 1983 and pursued postgraduate studies in applied geophysics at the Ecole Polytechnique de Montréal (1984-1985). With over 40 years of experience, he has developed considerable expertise in mining exploration and applied geophysics, working in a broad range of geological environments in many locations in Canada, the US, Africa, Australia and Central America.
Nicolas Tremblay – VP, IR and Corporate Development
Nicolas Tremblay is a retired IT manager and a seasoned investor with a strong background in business and technology. A graduate of the University of Ottawa (Business Admin) and Université du Québec à Hull (IT), he spent 31 years in the public sector, leading an IT group at Environment and Climate Change Canada. Over the last decade, he has been engaged in the mining exploration industry, serving as a board member for a company that developed a significant graphite discovery. With more than 30 years of stock market experience, he combines technical acumen with strategic investment expertise.
Isabelle Gauthier – CFO
Isabelle Gauthier has over 25 years of proven experience and expertise across all financial and business functions. She holds a B.A. in Administration from Université du Québec à Montréal (UQAM) and has been a member of the Ordre des Comptables professionnels agréés du Québec since 1998. She was a senior manager at the firm Raymond Chabot Grant Thornton for which she worked as an auditor from 1996 to 2006. She has developed an expertise in public companies primarily in the mining sector.
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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 due to 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 2024's 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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