Noble Mineral Exploration (TSXV:NOB,FWB:NB7,OTCQB:NLPXF) is a Canadian junior exploration company with shareholdings in Canada Nickel, Spruce Ridge Resources and MacDonald Mines Exploration.
Noble holds approximately 90,000 hectares of mineral rights in various areas of Northern Ontario, Quebec and Newfoundland, upon which it plans to generate joint venture exploration programs. The company is exploring for nickel, cobalt, platinum group metals (PGMs), volcanogenic massive sulphide (VMS), gold, chromium, copper, zinc, silver and gold. The company owns one contiguous block of land totaling 25,000 hectares staked and patented mineral rights at Project 81 including a 50-percent interest in the Carnegie, Prosser, Wark and Kidd Twps (6,600 hectares ) claims, and an option on 4,800 hectares in Calder Twp.
Noble’s Project 81 properties have been sold to Canada Nickel for 3.5 million shares of Canada Nickel, which yielded dividends to Noble shareholders in the second quarter of 2022 by way of a return of capital. Noble has retained a 2-percent net smelter return (NSR) on claims in Bradburn, Mahaffy and MacDiarmid Twps subject to a 50-percent buyback at graduated rates per project.
The Crawford nickel sulfide project covers 9,000 hectares of the larger Project 81 property and is approximately 14 kilometers north of the Kidd Creek mine. After an initial drill program carried out by Spruce Ridge Resources, the Crawford Ni-Co-PGM deposit was taken over by Sprudge Ridge for 22 million shares of Canada Nickel.
Noble Mineral also holds interest in Mann et al Twps comprising 1,900 hectares in the Timmins area of Northern Ontario, for which it holds the mineral rights focusing on Ni-Co-PGM. The company plans a follow-up drilling campaign at the Nagagami River Carbonatite project covering 14,600 hectares of niobium and rare earth discovery near Hearst in Northern Ontario. Noble is also planning its 2023 drill campaign at the 4,600-hectare Boulder Project. Scheduled winter drilling for the same year is set for the 482-hectare Cere-Villebon and 3,700-hectare Buckingham graphite projects.
Noble Mineral has also formed numerous strategic financial and technical partnerships that apply state-of-the-art technology to help identify various types of mineralization. Some of the company’s partners include MacDonald Mines Exploration (TSXV:BMK), a Canadian precious metals explorer, Orix Geoscience, a geological consulting firm, BECI Exploration Consulting, an innovative airborne mineral exploration technology developer, CGG Multiphysics, a fully-integrated geoscience company providing leading geological, geophysical (airborne gravity gradiometer) and reservoir services, Windfall Geotek to produce artificial intelligence (AI), IBK, as their financial advisor, and Franco-Nevada (TSX:FNV), a net smelter royalty (NSR) holder.The Project 81 property spans over 36,400 hectares and is located in the Timmins-Cochrane area of Northern Ontario. It comprises patented mineral rights, in addition to contiguous staked mining claims. The property remains mostly underexplored and is prospective for gold, silver, nickel, cobalt, platinum group metals (PGM), chromium, copper, lead, VMS and zinc deposits. Project 81 is within three kilometers of Glencore’s Kidd Creek zinc-copper-silver mine complex, 30 kilometers from the Porcupine-Destor main break, and within 25 kilometers of the City of Timmins, Ontario. The property is accessible by paved highway and has access to high-voltage transmission lines, hydropower, water, mining personnel and mining service suppliers and contractors.
Noble Minerals has acquired a copper-precious-metal prospect near Hearst, Ontario, extending from about 4 to 15 kilometers southwest of the town of Hearst. The staked area is equivalent to approximately 4,500 hectares. A 140-kilogram boulder was found in the area containing significant concentrations of base and precious metals which, upon analysis conducted in 2019 by the Ontario Geological Survey, determined that the boulder contained: 71.8 percent copper; 3.5 percent lead, 1.09 percent zinc; 252 grams per ton (g/t) of silver, 3.79 g/t of gold; 4.43 g/t of palladium; and 2.22 g/t of platinum and consisted primarily of the mineral cuprite.
Drilling is planned in 2023 to follow up on airborne EM/Mag for Boulder producing more than 70 percent copper.
First core from Nagagami Complex
Noble acquired an estimated 14,607 hectares, including 695 mining claims, in the Nagagami River area. The carbonatite alkalic complex is positioned approximately 65 kilometers northwest of Hearst, Ontario. Project perspectives are based on magnetic study of the Nagagami land relative to the Niobec mine in Quebec. These geologically similar areas indicate donut-shaped structures with syenitic rocks forming the circular magnetic high, and carbonatitic rocks forming the central magnetic low where niobium and other rare earth mineralization is hosted.
The Buckingham graphite project comprises 3,700 hectares in the Outaouais area of Western Quebec. A 2022 fieldwork of a two-phase program was conducted to include reprocessing of data from a 2013 survey, property visits to locate trenches, grab samples and drill hole collars. The company has proposed to conduct infill drilling on the property in 2023.
Between the 1960s and 1980s, drilling and exploration were conducted at the Lucas gold project. No significant exploration work, however, has been completed on the property since the 1980s. Historic (not NI 43-101 compliant) drill highlights include 9.14 meters grading 3.14 g/t gold and 8.84 meters grading 3.5 g/t gold. The project also has six discrete parallel induced polarization (IP) anomalous trends that require follow-up exploration.
In 2012 and 2018, Noble Mineral completed airborne electromagnetic and magnetic geophysical surveys on the property. The surveys outlined an anomalous gold trend that was followed up with a 3,184-meter drill program over 650 meters of the 1,700-meter strike length. Highlights from the 2018 drill program include 5 meters grading 1.42 g/t gold and 9.5 meters grading 1.84 g/t gold.
The company believes that the gold mineralization at Lucas is structurally controlled and occurs as discrete lenses stacked within the pyrite-gold mineralized tuff unit. Noble Mineral intends to conduct follow-up drilling during future work programs.
H. Vance White has served as president and director of the company since 2003. He has been actively involved in the mineral exploration and production industry for over 50 years. White has also served as director and officer of several other reporting issuers, including Dickenson Mines, now Goldcorp/Newmont. He was the founder of AfriOre, now owned by Lonmin.
Robert Suttie currently works with Marrelli Support Services as its vice-president. He has more than 20 years of experience, 10 of which were in public accounting prior to his tenure with the Marrelli organization. He specializes in management advisory services, accounting and the financial disclosure needs of Marrelli’s public client base. Suttie also serves as CFO for a number of other junior mining companies listed on the TSX and TSXV, leveraging his skills and experience to become integral to the reporting issuers.
Wayne Holmstead brings Noble Mineral Exploration more than 40 years of exploration experience in Ontario and Quebec. He is a P.Geo who graduated from the University of Toronto holding positions of president, vice-president exploration, exploration manager and director for various junior mining companies over the years and has directed all aspects of mineral exploration in Canada.
He co-discovered and arranged financing for the MacLeod Lake copper-molybdenum-gold-silver deposit in James Bay, Quebec. He outlined 18 million tonnes of copper, molybdenum, gold and silver in the Main Zone, and discovered the South Zone and Rocky Point Zone at Macleod Lake through boulder tracing and beep mat prospecting.
Denis Frawley is a corporate and securities lawyer at Ormston List Frawley LLP, where he has been practicing since 2006. He regularly advises companies involved in the mineral resource exploration and mining industries on matters related to corporate law, securities law, corporate governance and related areas. Frawley also routinely advises private and public companies on financings, mergers and acquisitions, joint ventures and general commercial and business matters. In addition, as part of his practice advising public companies, he frequently advises on reverse takeovers and other transformative transactions.
Prior to founding Ormston List Frawley LLP, Frawley was a partner in Toronto at another leading Canadian law firm. He received his bachelors of common and civil law degrees from McGill University and his Bachelor of Social Science in economics from the University of Ottawa. He is permitted to practice in Ontario and New York.
For the majority of his career, Birks Bovaird’s focus has been on the provision and implementation of corporate financial consulting and strategic planning services. He was previously the vice-president of corporate finance for one of Canada’s major accounting firms. He presently is the chairman of Energy Fuels Inc., a premier US-based integrated uranium miner listed on the TSX and NYSE. Bovaird is chairman of GTA Resources and Mining as well as a member of the audit committee. He has been involved with numerous public resource companies, both as a member of management and as a director. He is a graduate of the Canadian Director Education Program and holds the Institute of Corporate Directors (ICD.D) designation.
Michael Newbury is a professional engineer, banker and project finance specialist with over 30 years of experience in the operation, financing and evaluation of natural resource projects. Newbury’s mining and technical expertise, as well as financial and engineering capabilities, enable the evaluation, assessment, development and operational plans and financial structures that manage project risk, minimize equity requirements and maximize shareholder value.
Newbury has a bachelor’s of science from McGill University, managed Barclays Bank’s World Mining Group and the Credit Suisse Corporate Banking Group. He was one of the initial partners in Endeavour Financial and provided his technical expertise to that group for over 10 years. He has extensive experience in the evaluation and financial structuring of natural resource projects in emerging market countries including Uzbekistan, Kazakhstan, South Africa, China and Venezuela, now Bolivarian Republic of Venezuela. Currently, he operates as an independent consultant and is on the Boards of a number of junior mining companies. He is Noble Mineral Exploration’s designated qualified person (QP) for geological reporting.
As the president of Blue Source Canada, the largest developer and marketer of projects to reduce greenhouse gas (GHG) in Canada, Yvan Champagne oversees project sourcing, offset sales, brokerage and advisory services for the Canadian market. An experienced leader and entrepreneur in carbon markets, Champagne has a great passion for and understanding of environmental technologies and GHG-reduction projects.
His broad experience includes GHG project screening, assessment and contracting, and advising companies and organizations across Canada on sustainable environmental strategies and programs. Champagne brings expertise in government relations, consulting in the energy sector, public affairs and marketing, and growing companies in new markets. Champagne obtained his Bachelor’s of arts in political science from Yale University with a focus on environmental policy and business-government relations. He is also a graduate of the Kellogg-Schulich Executive MBA program.
Dr. Samuel Peralta has 35 years of business experience in the energy and technology sectors, overseeing business development, product and process innovation and corporate transformation. He holds a PhD in physics, with an industry background in energy, mobile platforms and digital media, advanced sensors and semiconductors. Currently, he is CEO of Windrift Bay, which develops and manages a portfolio of technology and media properties. He was previously director of business and corporate development at Kinectrics, overseeing $70 million annually in high-tech programs for the energy industry.
Previously, he was CEO of Qvadis, a smartphone software provider and CTO for OH Solar, a photovoltaic firm based on an acquisition from Texas Instruments. Peralta served in key positions at Ontario Power Generation and the Ontario Laser and Lightwave Research Centre. He has served on the board of directors of public, private and non-profit firms, with committee leadership in governance, finance and audit, and special projects including mergers and acquisitions. Peralta served on the boards of Qvadis, Envergence, OPEL Solar, Axiom NDT, POET Technologies and the Organization of Canadian Nuclear Industries. He is currently sitting on the boards of Cobalt Blockchain, Noble Mineral Exploration and Windrift Bay.
Stephen Balch, a professional geologist, has over 30 years of experience in mineral exploration as an exploration geophysicist. He is one of Canada’s leading experts on geophysical techniques used to identify nickel-copper sulfide and platinum-group-metal targets. Since 2010, he has served as president and a director of Triumph Instruments, a company that conducts airborne time-domain electromagnetic surveys in North America, China and Mexico.
Since 2001, he has been president of Balch Exploration Consulting, a company that provides consulting services to major mining and junior exploration companies. From 2007 to 2015, Balch served as the president and a director of Canadian Mining Geophysics, a geophysical data recording company. He currently serves as vice-president of exploration for Canada Nickel.
Dr. Ed van Hees is a registered professional geoscientist with over 40 years of domestic and international experience working in, exploring for, and doing research on the origin and geochemistry of Orogenic gold deposits. He has worked as an exploration field geologist, mine geologist, exploration manager, consulting geologist, research scientist and professor of geology. Most recently, van Hees was employed as the Regional Resident Geologist responsible for the Timmins and Sault Ste Marie Mining Districts with the Ontario Geological Survey Resident Geology Program. Here he supervised the professional staff and authored / co-authored 7 Annual Reports of Activity and 10 Recommendations for Exploration between 2016 and 2020. Starting in 2019 he was employed as a professor for the Haileybury School of Mines where he has taught and helped develop seven geology, geochemistry, geophysics and environmental courses. From 2001 to 2015, van Hees was a professor of geology at Wayne State University in Detroit, Michigan, where taught core geology courses including mineralogy, petrology, structural geology and exploration / economic geology, as well as conducting research on the geochemistry and structural geology of orogenic gold deposits, and the geochemistry of metal pollution. In total, he has authored/co-authored 36 publications.
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Toronto, Ontario January 30, 2025 TheNewswire - Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to report acquisition of mining claims on a Uranium-Molybdenum prospect in Northern Quebec. The 10 claims were acquired by map staking to cover approximately 461 hectares and is called the Taser North Property
The Taser North Project
The Taser North Property, located in the Ungava Bay region of northern Quebec, approximately 130 km southeast of the community of Kangirsuk, is a significant exploration area for uranium mineralization. Historically Azimut Exploration Inc., in partnership with Majescor Resources Inc., explored the property in 2007 for its potential to host uranium mineralization. No work has been done since.
The Taser North Property encompasses a variety of geological units, predominantly comprising high-grade metamorphic rocks such as gneisses and schists. These units have been intruded by granitic and pegmatitic bodies, which are potential hosts for uranium mineralization. The property is aligned along an extensive regional-scale uranium lake-bottom sediment anomaly referred to as the "Central Quebec Uranium Lineament," indicating a favourable environment for uranium mineralization.
The 2007 work identified numerous uranium-bearing outcrops over a 35-km strike, with samples located on the Taser North property yielding grades up to 0.65% U ₃ O ₈ . In addition, molybdenum values up to 0.14% were found associated with the anomalous uranium.
Individual uranium analyses include: 0.65%, 0.58%, 0.30%, 0.29%, 0.18%, 0.12%, 0.11%, and 0.10% over 2km of strike.
Molybdenum analyses include: 0.14%, 0.13% 0.08% and 0.05%.
The anomalous samples are located on the southwest flank of a northwest trending airborne radiometric high in uranium measuring 2.5km by 0.5km. In addition, a lake sediment sample taken from a lake southwest of the anomalous values on analysis measured 141 ppm uranium. (see Figure 1)
Click Image To View Full Size
Figure 1 - Taser North Project with property highlights on an Airborne Uranium Radiometric background.
The Taser North Property exhibits significant potential for uranium mineralization, supported by its favourable geological setting and positive, historical exploration results. The identification of numerous priority targets and high-grade analyses underscore the property's prospectivity. Further detailed prospecting, geological mapping, sampling, and drilling are recommended to fully assess and delineate the uranium potential of this property.
Acquisition of Taser North property plus the recent acquisition of the Chateau Property (Noble Press Release dated January 17, 2025) demonstrates Noble's commitment to exploring for critical minerals in Canada.
Wayne Holmstead, P.Geo (OGQ), a "qualified person" as such term is defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved this technical information in this news release on behalf of Noble Minerals.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~1700 ha in Thomas Twp in the Timmins area and ~175 ha of mining claims in Central Newfoundland. It also holds ~14,600 ha in the Nagagami Carbonatite Complex, and ~4,600 ha in the Boulder Project both near Hearst, Ontario, as well as ~3,700 ha in the Buckingham Graphite Property, ~10,152 ha in the Havre St Pierre Nickel, Copper, PGM property, ~1,573 ha in the Cere-Villebon Nickel, Copper, PGM property, and ~569 ha in the Kitivik area U 3 O 8 and REE's property all of which are in the province of Quebec.
More detailed information is available on the website at: https://www.noblemineralexploration.com
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks, and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Toronto, Ontario TheNewswire - January 27, 2025 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to report acquisition of additional claims on the wholly owned Cere Villebon Property located southeast of Val d'Or, Quebec. The claims were acquired by map staking and the new property area is now approximately 1,573 Hectares. The new area staked is currently being evaluated for the potential to host similar mineralization to that found in 2023.
The Cere Villebon Project
In 2023, a drill and geophysical program were completed on the Cere Villebon Project. The drill program included 7 diamond drill holes for a total of 1,955 meters. Significant mineralization was encountered in Holes 1 and 5.
Sampling of Hole 1 from the Cere Villebon drill program returned analyses of 5.2 meters* of 0.66% copper, 0.94% nickel, 0.04% cobalt, 0.25 g/t platinum and 0.66 g/t palladium within a 63 meter* wide mineralized zone grading 0.24% copper, 0.38% nickel, 0.02% cobalt, 0.11 g/t platinum and 0.33 g/t palladium . (*true width not known at this time.)
Sampling of Hole 5, located 25 meters east of Hole 1, of 0.46% copper, 0.69% nickel, 0.03% cobalt 0.78 g/t platinum and 1.28 g/t palladium over 19 meters* within a 37 meter* zone of 0.36% copper, 0.50% nickel, 0.02% cobalt, 0.36 g/t platinum and 0.54 g/t palladium . (*true width not known at this time)
The mineralization was found to be associated with a strong chargeability anomaly associated with a resistivity low reflecting the sulphide mineralization encountered in the core.
Holes 2, 3, 4, 6, and 7 showed no significant mineralization and were drilled off trend of Hole 1 and 5 to test targets on other parts of the property.
Historic drilling and resource estimates done by the Groupe La Fosse Platinum Inc on the North Zone (1987) calculated a historical resource of 421,840 tonnes grading 0.52% copper, 0.72 % nickel and 1.08 g/t combined platinum-palladium (Groupe La Fosse Platinum Inc., 1987 Annual Report).
This estimate is historical in nature, non-compliant to NI 43-101 Mineral Resources and Mineral Reserves standards, and therefore should not be relied upon. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources, and these estimates should only be considered has an indication of the mineral potential of the Property.
Image 1: Drill core from Hole 1, 220.5m depth down hole .
Click Image To View Full Size
Wayne Holmstead, P.Geo (OGQ), a "qualified person" as such term is defined by National Instrument 43-101, has reviewed the Cere Villebon data disclosed in this news release, and has otherwise reviewed and approved this technical information in this news release on behalf of Noble Minerals.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~1700 hectares in Thomas Twp in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~1,573 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec.
More detailed information is available on the website at: https://www.noblemineralexploration.com
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Highlights
Historical work indicates grab samples up to 0.24% U , 10.6% REE (total rare earth oxides), 14.3% P (phosphorus pentoxide) and 110.0 g/t Ag (silver)
Samples are associated with a 1 km by 0.5 km thorium-equivalent, airborne radiometric anomaly.
Toronto, Ontario TheNewswire - January 17, 2025 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) s pleased to announce the acquisition of the Chateau Property, a 12 claim property (569 hectares) by map staking in the Kitivik region of Northern Quebec. Historical work from a reconnaissance program in 2008 by Azimut Exploration indicated the following results in 4 grab samples taken on the property. This program identified significant mineralization on a 1 km by 0.5 km, thorium equivalent, airborne radiometric anomaly and highlights the project's potential for critical minerals. (Fig 1)
Highlights of the Historical Results:
Grab Sample A
0.12% U (uranium oxide)
2.73% ThO (thorium dioxide)
10.6% REE (rare earth oxides)
0.77% Y (yttrium oxide)
14.3% P (phosphorus pentoxide)
0.10% Pb (lead)
Grab Sample B
0.19% U
0.3% ThO
110.0 g/t Ag (silver)
1.90% ZrO (zirconium dioxide)
0.18% Pb
Grab Sample C
0.24% U
0.16% ThO
0.44% ZrO
0.15% Pb
Grab Sample D
0.10% U
In addition, the area is characterized by high uranium values in lake sediment samples taken by the Quebec Government. One sample taken 1.3 km east of the rock sampling analyzed 124 ppm uranium. (Fig 1)
Click Image To View Full Size
Figure 1: Highlights of the Chateau Property on a thorium equivalent, airborne radiometric anomaly background
Discussion of Results: The past work demonstrates the polymetallic nature of mineralization at Chateau, with notable concentrations of uranium, thorium, rare earth elements (REEs), yttrium, phosphorus, zirconium, and silver. In particular, the high-grade Rare Earth and Phosphorus values in Grab Sample A and the elevated silver and zirconium content in Grab Sample B underscore the project's potential to host critical minerals.
Vance White (CEO of Noble Minerals) commented: "We are highly encouraged by these historic results, which validate the strategic significance of the Chateau Project. The combination of critical minerals and rare metals in such concentrations, positions Chateau as a key critical mineral asset in the Noble group of properties. The global shift toward clean energy, advanced technologies and the search for North American sources of critical minerals makes this property a valuable asset and Noble is committed to advancing this project and unlocking its full potential."
Next Steps: The Company plans to visit the property in the Spring of 2025 to expand the mineralized footprint with additional samples to refine the geological model. The suite of elements present may indicate a carbonatite or hyperalkaline source.
Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
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About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~1700 hectares in Thomas Twp in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB) (OTCQB: NLPXF) is pleased to announce that it has signed a Definitive Implementation Agreement with Canada Nickel Company Inc. ("Canada Nickel") whereby Noble and Canada Nickel will spin-out certain mining claims (the "Properties") into a new company to consolidate their interests in large tonnage, low grade nickel projects northeast of Timmins, Ontario
The terms and conditions of the Definitive Implementation Agreement between Canada Nickel and Noble include:
(i) The creation of a private exploration company described herein as "ExploreCo", whereby Noble and Canada Nickel both transfer their interests in mining claims in Mann Township (the "Mann Property")
(ii) The transfer from Noble to Canada Nickel of certain mining claims and the transfer from Canada Nickel to ExploreCo of certain mining claims east of Timmins,
(iii) Canada Nickel providing initial flowthrough and hard dollar funding of $5 million from existing cash on-hand to ExploreCo, to be directed to exploration of the properties transferred into ExploreCo. After this initial funding, ExploreCo will be owned 80% by Canada Nickel and 20% by Noble Mineral Exploration and each Company will be responsible for their pro-rata share of funding.
(iv) The transfer by Noble of the right to acquire certain surface rights over the Noble Project 81 area that includes Canada Nickel's Crawford Project,
(v) The retention of underlying NSR and buy-back rights to Noble, Canada Nickel and any underlying NSR owners,
(vi) The retention of certain exploration rights by Noble on the transferred Project 81 claims and patents for non-nickel opportunities.
The transactions under the initial Binding Letter of Intent received conditional approval from the TSX Venture Exchange in early December 2024
As stated previously and commenting on the transaction Vance White, CEO of Noble said, "We felt that consolidating the eastern properties into a separate exploration company would maximize the value of the Mann Twp properties without incurring significant upfront dilution to Noble, and at the same time gain exposure to additional identified nickel sulphide targets in the Timmins camp in which Noble currently has no interest. ExploreCo will control ~1,989 mining claims totaling over 42,000 ha and will include Reaume, Mann and Newmarket Townships as well as McCool, Moody, Galna and other properties currently held by Canada Nickel. Noble will vend its interest in Project 81, together with the right to acquire surface rights over Project 81. For properties transferred from Noble to Canada Nickel, Noble will retain a 5-year exploration right to any non-nickel exploration target therein. This 5-year exploration right will be subject to an annual exploration right thereafter, upon both parties' consent. Noble intends to use its best efforts so that -upon ExploreCo going public, a portion of Noble's holdings in ExploreCo will be distributed to Noble shareholders in order that they may have a direct benefit as ExploreCo advances all underlying properties to the development stage, although that is a future event and we cannot provide any assurances that this will be done We anticipate that resource estimates will be available on at least two of the projects in Q2 2025".
The properties that would be held by ExploreCo include:
Figure 1 – Mann Northwest and Central – CNC Drillholes Over Total Magnetic Intensity.
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Figure 2 – NewMarket - CNCDrill Holes Over Total Magnetic Intensity
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Figure 3 - Newmarket – Mann Southeast targets
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Figure 4 – Moody, Mortimer, and Stimson Properties 
Moody is located 85 km northeast of Timmins and was staked by Canada Nickel (1,940 ha)
Mistango River Mines (1964) and Utah Mines Ltd. (1984) drilled 34 diamond holes and several reverse circulation holes, respectively, but the results were either not provided on MLAS or the core was not recovered
The ultramafic is interpreted to have dimensions of 4.2 km long up to 700 metres wide
Mortimer is located 80 km northeast of Timmins and includes two ultramafic intrusions that cover a total distance of 10 km and was staked by Canada Nickel (2,732 ha)
The main intrusion has dimensions of 1.8 km long, up to 400 metres wide and has never been intersected by drilling
The secondary intrusion, although longer in strike extent, does not show the same high intensity in the TMI but does have three locally high responses within the intrusion, none of which appears to have been drilled
Stimson is located 82 km northeast of Timmins and encompasses a weakly magnetic ultramafic body having a strike length of at least 2 km and with a higher amplitude TMI of 400 metres long
The ultramafic is interpreted to be a more distal extension of more strongly magnetic ultramafics found in Mortimer and Moody Townships
Figure 5 – ExploreCo Properties
Click Image To View Full Size
Statement Regarding TSX Venture Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The completion of any transactions mentioned in this release is subject to customary closing conditions, including final TSX Venture Exchange approval.
Qualified Persons and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc.
Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its holdings of securities in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~1700 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
More detailed information on Noble is available on the website at www.noblemineralexploration.com .
Canada Nickel Company Inc. is advancing the next generation of nickel-sulphide projects to deliver nickel required to feed the high growth electric vehicle and stainless-steel markets . Canada Nickel Company has applied in multiple jurisdictions to trademark the terms NetZero Nickel TM , NetZero Cobalt TM , NetZero Iron TM and is pursuing the development of processes to allow the production of net zero carbon nickel, cobalt, and iron products. Canada Nickel provides investors with leverage to nickel in low political risk jurisdictions. Canada Nickel is currently anchored by its 100% owned flagship Crawford Nickel-Cobalt Sulphide Project in the heart of the prolific Timmins-Cochrane mining camp. Canada Nickel's common shares trade on the TSX Venture Exchange under the symbol "CNC."
For more information, please visit www.canadanickel.com.
Cautionary Statement Concerning Forward-Looking Statements
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations
Email: ir@noblemineralexploration.com
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
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Highlights
Positive results continue at Mann West with 28 of 31 holes with intervals greater than 0.3% nickel including 0.52% nickel over 37.5 metres in MAN24-61 within 0.28% nickel over 356 metres
New discovery at Mann South with MAN24-81 delivering 0.24% nickel over 508 metres
Several holes with anomalous PGM horizons such as 0.82 g/t platinum+palladium over 18.6 metres and 0.77 g/t platinum+palladium over 24.5 metres in MAN24-100C at Mann South
Toronto, Ontario – TheNewswire - December 11, 2024 – Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSX-V:NOB, FRANKFURT: NB7, OTCQB:NLPXF) is pleased to announce results of a drill program on joint venture properties (ExploreCo) north of Timmins Ontario (See Canada Nickel Press Release dated December 11, 2024).
ExploreCo, the name of which will be announced in due course, will control 1,989 mining claims totaling approximately 42,000 hectares and will include nickel properties in Mann, Newmarket, and Reaume Townships as well as Calder, Galna, McCool, Moody, Mortimer, Stimson, and other properties currently held by Canada Nickel (see Figure 1, ExploreCo properties shown in purple).
Click Image To View Full Size
Regional Map of ExploreCo Properties (purple)
Under the Binding Letter of Intent, the first $5 million of funding for ExploreCo will be provided from existing funds by Canada Nickel, after which costs will be funded by pro rata ownership basis, which will initially be 80% Canada Nickel and 20% Noble. Canada Nickel and Noble will continue to maintain their existing royalty rights on the ExploreCo claims, as will previous claim owners who had vended claims to Noble. (see NR July 8, 2024)
Commenting on the transaction under the Mann results to date, CEO of Noble said, " we are extremely pleased with the Mann results to date from the work carried out by Canada Nickel. We are in the final stages of completing agreements related to the creation of ExploreCo which hope to have finalized in the very near term."
Mann Property
The Mann property is located 22 kilometres east of Crawford between Timmins and Cochrane and is 80% owned by Canada Nickel and 20% by Noble Mineral Exploration. The Company has completed a drill program on four separate targets within the property in 2024, Mann North, Mann West (together formerly Mann Northwest), Mann Central and Mann South. (Figure 1). This release provides an assay update from 31 holes, 16 holes at Mann West, 11 holes at Mann South, and four holes at Mann Central. This property is part of the creation of an 'ExploreCo' subsidiary with Noble Mineral Exploration (see press release July 8, 2024) with Noble owning the other 20%.
Mann West
Mann West is approximately 3.5 kilometres long by up to 1.1 kilometres wide (covering 3.4 square kilometres). The drill program completed focused on the southern half of the target with drilling completed over a strike length of 1.7 kilometres and a width of at least 600 metres. All drillholes intersected long sections of well-serpentinized peridotite and minor dunite with disseminated and visible nickel sulphide mineralization consisting primarily of pentlandite and heazlewoodite. The Company has drilled a total of 39 holes to date at Mann West (Figure 2), with 31 holes drilled during the 2024 program. With this drilling the company has completed the first phase of exploration that is required for an initial resource estimate expected by Q1 2025. Assays from 16 additional holes are presented in this release.
Figure 1 – Mann Properties
Click Image To View Full Size
Table 1 – Drilling highlights Mann Properties
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
Mann West | ||||||||||
MAN24-42 | 9.0 | 345.2 | 336.2 | 0.24 | 0.012 | 0.004 | 0.007 | 0.20 | 6.40 | 0.068 |
and | 371.7 | 402.0 | 30.3 | 0.19 | 0.010 | 0.003 | 0.005 | 0.38 | 6.82 | 0.053 |
MAN24-61 | 17.8 | 374.3 | 356.5 | 0.28 | 0.012 | 0.033 | 0.017 | 0.26 | 5.98 | 0.133 |
including | 75.0 | 112.5 | 37.5 | 0.52 | 0.013 | 0.107 | 0.058 | 0.14 | 5.80 | 0.203 |
MAN24-70 | 18.0 | 501.0 | 483.0 | 0.24 | 0.011 | 0.007 | 0.008 | 0.27 | 6.12 | 0.067 |
including | 144.0 | 172.5 | 28.5 | 0.29 | 0.011 | 0.007 | 0.007 | 0.14 | 5.52 | 0.076 |
MAN24-73 | 74.2 | 500.4 | 426.2 | 0.25 | 0.012 | 0.009 | 0.009 | 0.25 | 6.30 | 0.061 |
MAN24-74 | 7.9 | 278.5 | 270.6 | 0.19 | 0.014 | 0.027 | 0.016 | 0.40 | 7.40 | 0.057 |
including | 25.5 | 31.5 | 6.0 | 0.31 | 0.013 | 0.028 | 0.013 | 0.82 | 6.67 | 0.125 |
and | 318.0 | 402.0 | 84.0 | 0.24 | 0.013 | 0.003 | 0.005 | 0.16 | 7.45 | 0.026 |
MAN24-76 | 12.6 | 495.0 | 482.4 | 0.26 | 0.011 | 0.011 | 0.010 | 0.16 | 5.95 | 0.042 |
including | 81.0 | 117.0 | 36.0 | 0.29 | 0.012 | 0.036 | 0.014 | 0.16 | 6.11 | 0.089 |
and | 162.0 | 196.5 | 34.5 | 0.31 | 0.011 | 0.010 | 0.012 | 0.13 | 5.24 | 0.024 |
MAN24-78 | 19.4 | 402.0 | 382.6 | 0.24 | 0.013 | 0.012 | 0.010 | 0.38 | 6.54 | 0.053 |
including | 261.0 | 294.0 | 33.0 | 0.30 | 0.013 | 0.031 | 0.021 | 0.52 | 6.67 | 0.100 |
including | 274.5 | 282.0 | 7.5 | 0.41 | 0.015 | 0.057 | 0.027 | 0.72 | 6.95 | 0.178 |
MAN24-82 | 22.0 | 481.5 | 459.5 | 0.21 | 0.012 | 0.017 | 0.016 | 0.37 | 6.76 | 0.047 |
including | 61.5 | 360.0 | 298.5 | 0.25 | 0.012 | 0.019 | 0.013 | 0.35 | 6.17 | 0.050 |
including | 255.0 | 277.5 | 22.5 | 0.30 | 0.013 | 0.025 | 0.014 | 0.58 | 5.91 | 0.069 |
MAN24-83 | 6.0 | 403.0 | 397.0 | 0.21 | 0.013 | 0.016 | 0.011 | 0.58 | 7.43 | 0.087 |
including | 144.0 | 195.9 | 51.9 | 0.27 | 0.014 | 0.030 | 0.024 | 0.68 | 7.87 | 0.064 |
and | 305.5 | 336.0 | 30.5 | 0.27 | 0.013 | 0.019 | 0.009 | 0.60 | 6.30 | 0.080 |
MAN24-85 | 69.0 | 493.0 | 424.0 | 0.25 | 0.012 | 0.012 | 0.008 | 0.26 | 6.25 | 0.042 |
MAN24-86 | 14.2 | 462.0 | 447.8 | 0.23 | 0.012 | 0.006 | 0.006 | 0.41 | 6.33 | 0.027 |
MAN24-89 | 99.0 | 191.2 | 92.2 | 0.22 | 0.012 | 0.013 | 0.009 | 0.47 | 6.71 | 0.042 |
and | 210.6 | 428.9 | 218.3 | 0.24 | 0.012 | 0.009 | 0.008 | 0.35 | 6.31 | 0.053 |
including | 386.0 | 395.0 | 9.0 | 0.35 | 0.013 | 0.054 | 0.020 | 0.75 | 6.45 | 0.120 |
MAN24-92 | 27.4 | 426.9 | 399.5 | 0.25 | 0.012 | 0.016 | 0.008 | 0.39 | 6.27 | 0.046 |
including | 267.0 | 286.5 | 19.5 | 0.34 | 0.015 | 0.083 | 0.034 | 0.66 | 6.57 | 0.114 |
and | 324.0 | 349.5 | 25.5 | 0.30 | 0.012 | 0.037 | 0.015 | 0.57 | 6.29 | 0.125 |
and | 433.6 | 501.0 | 67.4 | 0.20 | 0.013 | 0.013 | 0.021 | 0.50 | 7.35 | 0.047 |
MAN24-93 | 18.0 | 391.0 | 373.0 | 0.24 | 0.012 | 0.009 | 0.007 | 0.34 | 6.43 | 0.039 |
and | 406.8 | 470.0 | 63.2 | 0.16 | 0.011 | 0.005 | 0.004 | 0.36 | 7.34 | 0.031 |
MAN24-94 | 102.0 | 501.0 | 399.0 | 0.24 | 0.012 | 0.012 | 0.009 | 0.39 | 6.50 | 0.039 |
including | 400.5 | 415.5 | 15.0 | 0.30 | 0.011 | 0.044 | 0.021 | 0.57 | 6.57 | 0.083 |
MAN24-97 | 18.0 | 360.0 | 342.0 | 0.21 | 0.013 | 0.015 | 0.009 | 0.37 | 6.63 | 0.053 |
and | 406.5 | 501.0 | 94.5 | 0.23 | 0.012 | 0.003 | 0.003 | 0.39 | 7.10 | 0.021 |
*True width undetermined. All lengths are drillhole lengths.
Figure 2 – Mann West
Click Image To View Full Size
Mann South
This target is approximately 5.9 kilometres long by up to 1.2 kilometres wide, having an arcuate and irregular shape, with an overall area of 4.1 square kilometres. The CNC drill program at Mann South started in August 2024 consisting of 20 drillholes, all of which intersected serpentinized peridotite and dunite. Assay results for 11 drillholes are provided in this release with nine drillhole assay results still pending. Mineralogical analyses are underway to help identify and prioritize the best areas, although almost half of the strike length of the target remains untested (Figure 3).
Table 2 – Mann South drilling Highlights
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
Mann South | ||||||||||
MAN24-66 | 39.0 | 139.5 | 100.5 | 0.23 | 0.013 | 0.003 | 0.003 | 0.29 | 8.03 | 0.070 |
and | 187.5 | 402.0 | 214.5 | 0.18 | 0.013 | 0.003 | 0.004 | 0.43 | 6.61 | 0.019 |
MAN24-72 | 54.5 | 501.0 | 446.5 | 0.20 | 0.013 | 0.005 | 0.006 | 0.43 | 6.80 | 0.019 |
MAN24-75 | 16.9 | 420.0 | 403.1 | 0.24 | 0.010 | 0.018 | 0.006 | 0.30 | 7.92 | 0.051 |
MAN24-77 | 39.0 | 46.0 | 7.0 | 0.44 | 0.017 | 0.051 | 0.126 | 0.57 | 9.28 | 0.036 |
and | 60.0 | 448.5 | 388.5 | 0.14 | 0.014 | 0.019 | 0.013 | 0.41 | 6.96 | 0.016 |
MAN24-81 | 44.3 | 552.0 | 507.7 | 0.24 | 0.011 | 0.003 | 0.003 | 0.38 | 7.55 | 0.056 |
MAN24-84 | 28.4 | 501.0 | 472.6 | 0.24 | 0.011 | 0.003 | 0.003 | 0.42 | 7.70 | 0.057 |
MAN24-90 | 49.3 | 501.0 | 451.7 | 0.23 | 0.012 | 0.004 | 0.005 | 0.37 | 6.33 | 0.015 |
MAN24-91 | 49.0 | 323.3 | 274.3 | 0.17 | 0.013 | 0.004 | 0.004 | 0.44 | 6.93 | 0.043 |
and | 338.7 | 483.0 | 144.3 | 0.22 | 0.012 | 0.003 | 0.003 | 0.37 | 6.13 | 0.021 |
MAN24-99 | 51.3 | 402.0 | 350.7 | 0.17 | 0.013 | 0.004 | 0.012 | 0.46 | 6.60 | 0.011 |
MAN24-100C | 21.0 | 112.4 | 91.4 | 0.16 | 0.014 | 0.036 | 0.096 | 0.37 | 7.46 | 0.010 |
and | 131.0 | 172.0 | 41.0 | 0.22 | 0.012 | 0.010 | 0.010 | 0.61 | 5.69 | 0.031 |
and | 340.5 | 378.4 | 37.9 | 0.19 | 0.013 | 0.005 | 0.003 | 0.56 | 6.52 | 0.027 |
MAN24-103 | 34.0 | 402.0 | 368 | 0.24 | 0.012 | 0.027 | 0.003 | 0.36 | 7.67 | 0.016 |
*True width undetermined. All lengths are drillhole lengths.
Figure 3 - Mann South
Click Image To View Full Size
Mann Central
The outline of the ultramafic body at Mann Central is estimated by magnetics to be 4.5 kilometres long and between 0.5 to 1.0 kilometres wide (or 3.1 square kilometres). Drilling at this target was completed during the spring/summer of 2024 and now totals 32 drillholes, 27 of which were drilled during the 2024 program. Mineralization is more consistent near the center of the target over an area of 1.9 kilometres by 600 metres (1.1 square kilometres). This release provides an update for four drillholes (Table 3), all of which intersected peridotite.
Anomalous platinum group metals (PGM) consisting of platinum (Pt) and palladium (Pd) were identified in several holes, predominantly within pyroxenite units near the peridotite contacts on all properties (Table 4).
Table 3 – Mann Central drilling Highlights
Hole ID | From (m) | To (m) | Length (m)* | Ni % | Co % | Pd g/t | Pt g/t | Cr % | Fe % | S % |
Mann Central | ||||||||||
MAN24-41 | 111.9 | 153.0 | 41.1 | 0.18 | 0.012 | 0.004 | 0.005 | 0.52 | 7.42 | 0.096 |
MAN24-48 | 75.0 | 402.0 | 327.0 | 0.21 | 0.011 | 0.005 | 0.006 | 0.29 | 6.58 | 0.084 |
including | 148.5 | 157.5 | 9.0 | 0.35 | 0.015 | 0.019 | 0.008 | 0.14 | 8.73 | 0.199 |
MAN24-64 | 14.3 | 48.5 | 34.2 | 0.22 | 0.012 | 0.005 | 0.008 | 0.18 | 6.66 | 0.584 |
and | 55.8 | 334.9 | 279.1 | 0.19 | 0.012 | 0.014 | 0.017 | 0.40 | 7.00 | 0.053 |
MAN24-68 | 366.0 | 406.0 | 40.0 | 0.24 | 0.012 | 0.003 | 0.006 | 0.15 | 8.77 | 0.028 |
*True width undetermined. All lengths are drillhole lengths.
Table 4 – Mann Properties PGM Highlights
Hole ID | From (m) | To (m) | Length (m) | Pt+Pd (g/t) | Pd g/t) | Pt (g/t) | Ni (%) | Co (%) | Cr (%) | Fe (%) | S (%) |
Mann West | |||||||||||
MAN24-74 | 278.5 | 309.0 | 30.5 | 0.48 | 0.28 | 0.20 | 0.037 | 0.007 | 0.394 | 5.763 | 0.011 |
MAN24-82 | 481.5 | 501.0 | 19.5 | 0.52 | 0.28 | 0.24 | 0.024 | 0.007 | 0.324 | 5.919 | 0.014 |
MAN24-97 | 378.5 | 400.5 | 22 | 0.40 | 0.23 | 0.17 | 0.040 | 0.008 | 0.360 | 5.179 | 0.018 |
Mann South | |||||||||||
MAN24-66 | 160.0 | 180.7 | 20.7 | 0.49 | 0.33 | 0.16 | 0.026 | 0.005 | 0.362 | 3.957 | 0.017 |
MAN24-72 | 44.0 | 54.5 | 10.5 | 0.37 | 0.12 | 0.24 | 0.037 | 0.009 | 0.313 | 5.849 | 0.011 |
MAN24-77 | 37.0 | 60.0 | 23 | 0.55 | 0.16 | 0.39 | 0.216 | 0.012 | 0.409 | 6.386 | 0.016 |
and | 444.0 | 457.5 | 13.5 | 0.34 | 0.10 | 0.24 | 0.098 | 0.013 | 0.596 | 6.776 | 0.015 |
and | 492.0 | 529.5 | 37.5 | 0.35 | 0.14 | 0.21 | 0.055 | 0.008 | 0.499 | 5.450 | 0.008 |
MAN24-100C | 75.0 | 91.5 | 16.5 | 0.53 | 0.11 | 0.42 | 0.131 | 0.013 | 0.314 | 6.600 | 0.011 |
and | 112.4 | 131.0 | 18.6 | 0.82 | 0.31 | 0.51 | 0.064 | 0.009 | 0.474 | 5.288 | 0.006 |
and | 172.0 | 196.5 | 24.5 | 0.77 | 0.32 | 0.46 | 0.048 | 0.009 | 0.518 | 5.375 | 0.007 |
Mann Central | |||||||||||
MAN24-64 | 334.9 | 351.5 | 16.6 | 0.52 | 0.33 | 0.19 | 0.043 | 0.008 | 0.371 | 5.291 | 0.019 |
Figure 4 - Mann Central
Click Image To View Full Size
Table 5: Drillhole Orientation
Hole ID | Easting ( mE) | Northing ( mN) | Azimuth (⁰) | Dip ( ⁰) | Length (m) |
MANN WEST | |||||
MAN24-42 | 496024 | 5411983 | 35 | -50 | 402 |
MAN24-61 | 496859 | 5412156 | 215 | -50 | 402 |
MAN24-70 | 496492 | 5412296 | 215 | -50 | 501 |
MAN24-73 | 496604 | 5412445 | 215 | -50 | 500 |
MAN24-74 | 495656 | 5412189 | 215 | -85 | 402 |
MAN24-76 | 496560 | 5412057 | 215 | -50 | 495 |
MAN24-78 | 495969 | 5412226 | 215 | -85 | 402 |
MAN24-82 | 495980 | 5412379 | 215 | -50 | 501 |
MAN24-83 | 496980 | 5412318 | 215 | -50 | 450 |
MAN24-85 | 496493 | 5412451 | 215 | -50 | 493 |
MAN24-86 | 496442 | 5411894 | 215 | -50 | 489 |
MAN24-89 | 496297 | 5412494 | 215 | -50 | 495 |
MAN24-92 | 496177 | 5412332 | 215 | -50 | 501 |
MAN24-93 | 496373 | 5412289 | 215 | -50 | 471 |
MAN24-94 | 496098 | 5412537 | 215 | -50 | 501 |
MAN24-97 | 495765 | 5412456 | 220 | -50 | 501 |
MANN SOUTH | |||||
MAN24-66 | 503460 | 5408195 | 35 | -50 | 402 |
MAN24-72 | 503650 | 5408420 | 35 | -50 | 501 |
MAN24-75 | 502081 | 5405730 | 55 | -50 | 420 |
MAN24-77 | 502345 | 5405431 | 50 | -50 | 540 |
MAN24-81 | 503460 | 5408195 | 220 | -50 | 552 |
MAN24-84 | 502406 | 5408781 | 35 | -50 | 501 |
MAN24-90 | 503140 | 5409045 | 35 | -50 | 501 |
MAN24-91 | 503358 | 5408852 | 35 | -50 | 483 |
MAN24-99 | 502349 | 5405667 | 55 | -50 | 402 |
MAN24-100C | 502169 | 5405546 | 55 | -50 | 378 |
MAN24-103 | 501960 | 5405890 | 55 | -50 | 402 |
MANN CENTRAL | |||||
MAN24-41 | 498466 | 5410751 | 145 | -55 | 153 |
MAN24-48 | 498066 | 5410676 | 180 | -50 | 402 |
MAN24-64 | 498058 | 5410435 | 180 | -50 | 406 |
MAN24-68 | 497871 | 5410435 | 180 | -50 | 402 |
Quality Assurance and Control, Drilling and Assaying
Edwin Escarraga, MSc, P.Geo., a "qualified person" as defined by National Instrument 43-101, is responsible for the on-going drilling and sampling program, including quality assurance (QA) and quality control (QC). The core is collected from the drill in sealed core trays and transported to the core logging facility. The core is marked and sampled at 1.5 metre lengths and cut with a diamond blade saw. One set of samples is transported in secured bags directly from the Canada Nickel core shack to Actlabs Timmins, while a second set of samples is securely shipped to SGS Lakefield for preparation, with analysis performed at SGS Burnaby or SGS Callao (Peru). All are ISO/IEC 17025 accredited labs. Analysis for precious metals (gold, platinum and palladium) are completed by Fire Assay while analysis for nickel, cobalt, sulphur and other elements are performed using a peroxide fusion and ICP-OES analysis. Certified standards and blanks are inserted at a rate of 3 QA/QC samples per 20 core samples making a batch of 60 samples that are submitted for analysis.
Qualified Person and Data Verification
Stephen J. Balch P.Geo. (ON), VP Exploration of Canada Nickel and a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Canada Nickel Company Inc .
Wayne Holmstead P.Geo (ON), a "qualified person" as defined by National Instrument 43-101, has reviewed the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Homeland Nickel Inc., Go Metals Corp. and Lode Gold Resources Inc . , and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold ~25,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81, as well as an additional 20% interest in ~11,000 hectares in the Timmins area and ~175 hectares of mining claims in Central Newfoundland. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its ~14,600 hectares in the Nagagami Carbonatite Complex and its ~4,600 hectares in the Boulder Project both near Hearst, Ontario, as well as ~3,700 hectares in the Buckingham Graphite Property, ~10,152 hectares in the Havre St Pierre Nickel, Copper, PGM property, and ~482 hectares in the Cere-Villebon Nickel, Copper, PGM property, all of which are in the province of Quebec. More detailed information is available on the website at:
www.noblemineralexploration.com .
Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB."
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
H. Vance White, President
Phone: 416-214-2250
Fax: 416-367-1954
Email: info@noblemineralexploration.com
Investor Relations: ir@noblemineralexploration.com
Copyright (c) 2024 TheNewswire - All rights reserved.
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Nickel Price 2024 Year-End Review
Nickel Price Forecast: Top for Nickel in 2025
Nickel market activity has been underwhelming for the past couple of years as supply exceeds demand.
This trend continued in 2024's final quarter, with Indonesian supply being the primary force weighing on prices. Indonesia is the largest source of nickel globally, with much output destined for Chinese-owned refineries in the country.
Meanwhile, demand stayed weak as China’s economy continued to sputter. The Asian nation's housing and manufacturing markets are important demand drivers for nickel, which is used in stainless steel products.
Read on to learn what other key factors moved the nickel sector in 2024.
Nickel reached its 2024 peak of US$21,615 per metric ton on May 20, but was back below the US$16,000 mark by the end of July. Following some volatility in August and September, it reached US$18,221 on October 2.
However, higher prices were not to last, and nickel spent much of Q4 in a downward trend.
By the end of October, nickel had fallen to US$15,732 before climbing back to US$16,607 on November 7.
Since then, the nickel market's downtrend has largely continued. On December 19, the metal slumped to its 2024 low of US$15,090, ultimately ending the year at US$15,300 on December 31.
Nickel price, Q4 2024.
Chart via Trading Economics.
As mentioned, nickel’s weak price performance is largely due to high output from Indonesia and low demand, particularly from Asian markets, as China’s recovery has failed to gain traction.
Against that backdrop, Indonesia said on December 19 that it was considering cutting mining quotas to boost prices. The move would reduce the amount of nickel ore allowed to be mined almost in half, to 150 million metric tons in 2025.
Additionally, Indonesia is looking to tighten environmental regulation compliance for miners in the new year, which could increase volatility for metals including nickel. The move comes not long after the country signed several new agreements in November with Chinese companies that would see billions invested in Indonesian nickel operations.
Indonesia had previously worked to distance itself from partnerships with China as it sought to improve relations with the US and be included under the country's US Inflation Reduction Act (IRA).
The new agreements emerged shortly after Donald Trump won the US presidential election on November 7. Trump’s return to the Oval Office is unlikely to bode well for Indonesian officials seeking to secure a trade deal with the US. However, a loosening of rules in the IRA might create new inroads for Indonesian nickel producers.
The story since the start of the year has been high output from Indonesian operations.
Low prices saw some nickel producers, including major miner First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) and Australia’s Wyloo Metals, cut production. However, New Caledonia was most affected. The country is highly dependent on its nickel sector, with industry giants like Glencore (LSE:GLEN,OTC Pink:GLCNF), Eramet (EPA:ERA) and raw materials trader Trafigura owning significant stakes in nickel producers in the country.
Ultimately, cuts there led to a 200 million euro bailout package from the French government, which exacerbated tensions over New Caledonia's independence from France. Opponents of the agreement argued that it risks the territory's sovereignty, and that mining companies aren’t contributing enough to bail out the mines, which employ thousands.
The second quarter was defined by a surge in nickel prices.
Positive momentum began to work its way into the market at the end of Q1, as Indonesia experienced delays in approving mining output quotas and speculation grew that Russian nickel could be sanctioned by the US and UK.
On April 12, news broke that Washington and London had banned US and UK metal exchanges from admitting new aluminum, copper and nickel from Russia. Taking immediate effect, the prohibitions also halted the import of those metals, causing prices to soar to a year-to-date high of US$21,615 on May 20.
At the time, Joe Mazumdar, editor of Exploration Insights, suggested this move would have little impact on the sector.
“That nickel is still going to make it into the market, it’s just going to go to a different exchange, probably Shanghai … So I could still see that nickel moving and getting consumed in the global market — it’s just not coming to the west,” he explained to the Investing News Network in an interview.
Ultimately, by the end of the quarter, the price was trending toward US$17,000.
Nickel saw a strong end to the third quarter, with prices rising above the US$18,000 mark.
Nickel found support in September as the Chinese government introduced a raft of stimulus measures intended to boost economic growth in the country. Among the measures were a 0.5 percent interest rate cut on existing mortgages, and a reduction in the downpayment required to purchase a home to 15 percent from 25 percent.
The announcement came alongside cuts at Chinese smelters as they were forced to deal with a shortage in feeder supply due to more delays to Indonesia’s permitting and quota system.
The nickel market is expected to remain oversupplied for some time.
With China’s economy on a slow path to recovery, demand is projected to remain weak. Meanwhile, supply will likely hinge on whether Indonesia chooses to make significant cuts to its output.
While demand for nickel in electric vehicle batteries is expected to be up 27 percent year-on-year in 2024, producers have also been pursuing alternatives that don’t require as much nickel. Additionally, more consumers are looking to plug-in hybrid vehicles with smaller batteries that require less nickel.
Even with the increased demand from the battery sector, nickel is primarily used in stainless steel products, which are still dominated by the Chinese manufacturing and real estate sectors.
Perhaps the most significant factors to consider are political. A new administration in the US and a shift in its approach to sourcing critical metals like nickel could alter the landscape for nickel producers in 2025.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
The nickel market has faced challenges over the past few years due to a supply glut and weak demand.
Even though the price of nickel surged in the first quarter of 2024, higher prices didn’t last. By the end of the year, any gains the base metal had made were erased, and it entered 2025 in the US$15,000 to US$15,200 per metric ton range.
What's in store for the rest of the year, and what nickel trends should investors be watching?
Indonesian supply is a key reason nickel prices are under pressure, as is a lack of demand growth.
In comments emailed to the Investing News Network (INN), Ewa Manthey, commodities strategist at ING, suggested that the situation isn’t likely to change for nickel in 2025.
“We believe nickel’s underperformance is likely to continue — at least in the near term — amid weakening demand and a sustained market surplus. A surge in output in Indonesia has dragged nickel lower over recent years, and demand from the stainless steel and electric vehicle (EV) battery sectors continues to disappoint,” she said.
Her statement follows recently introduced measures from China. Set to take effect in 2025, they involve injecting US$1.4 trillion over the next five years, and are meant to help the country’s ailing economy.
However, past measures introduced in 2024, particularly those in September, have yet to significantly affect the nation's housing and manufacturing sectors, which are net demand drivers for stainless steel.
Jason Sappor, senior analyst, metals and mining research, at S&P Global Commodity Insights, expressed similar sentiments about nickel's 2025 performance in comments to INN.
“We expect the market to remain oversupplied in 2025, as Indonesia and China’s primary nickel output expands further,” he said. Sappor added that subdued prices could lead to further output curtailments across the industry. This would be in addition to cuts already made at various operations around the world, particularly in Oceania.
The situation even has top producer Indonesia considering restricting output.
“The latest news reports that Indonesia’s government is considering making deep cuts to nickel-mining quotas to boost prices also highlight that the implementation of restrictions on the country’s nickel output should not be ignored as a risk to forecasts for the market to stay in surplus in 2025,” Sappor said.
For her part, Manthey suggested that cuts to nickel supply in 2024 did little to upset the market surplus — instead, they may have solidified Indonesia’s dominance over the industry.
“The recent supply curtailments also limit the supply alternatives to the dominance of Indonesia, where the majority of production is backed by Chinese investment. This comes at a time when the US and the EU are looking to reduce their dependence on third countries to access critical raw materials, including nickel,” she said.
One of the biggest factors that could come into play in 2025 is Donald Trump's return to the White House.
During his campaign, Trump made several promises that could lead to a shift in the US’ environmental and energy transition policies. While nothing is set in stone just yet, the actions he takes could include reversing commitments made under the Paris Agreement and ending tax credits for EVs.
A significant unknown is how Trump will approach the Inflation Reduction Act (IRA).
The program, which was established under the outgoing Biden administration, was designed to stimulate a move away from fossil fuels, while also supporting the procurement of friendly supply of low-carbon nickel.
One part of the IRA has made it challenging for Indonesia to export nickel to the US. As it stands, EVs must meet foreign entity of concern (FEOC) rules to qualify for the US$7,500 tax credit outlined under the IRA.
The US considers nations like China, Russia, Iran and North Korea to be areas of concern. Under rule 30D of the act, these nations cannot control more than 25 percent of the board seats, voting rights or equity interests of any company that supplies critical minerals for EV batteries destined for the US.
This has been a major obstacle for Indonesia as it has worked to build a trade partnership with the US.
Manthey outlined how Trump may seek to tighten rules, making a trade pact with Indonesia more difficult.
“Indonesia has been trying to reduce China-based ownership of new nickel projects to help its nickel sector qualify for the IRA tax credits. Tighter FEOC rules would create more issues for nickel supply chains, and would be an obstacle to Indonesia’s goal of expanding its export market to the US,” she said.
Manthey also said if the rules are tightened, primary and intermediate production will continue to be sent to China.
Barring any major shift in the supply and demand environment, nickel prices are unlikely to see significant gains over the next year. For investors, this is likely to make for a less supportive environment.
“The surplus in the Class 1 market is reflected in the rising exchange stocks," said Manthey.
"Further inflows of Chinese and Indonesian metal into the exchange’s sheds could put additional downward pressure on the London Metal Exchange’s nickel prices," she added in her comments to INN.
For Manthey, the potential upside would be stronger stainless steel output or restricted ore supply from Indonesia. However, slower EV market growth or the cancellation of some incentives in the US could offset this.
Overall, she isn’t expecting large price movements in the coming year.
“We forecast nickel prices to remain under pressure next year as the surplus in the global market continues. We see prices averaging US$15,700 in 2025,” Manthey said.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: FPX Nickel is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
After trending down in 2023, nickel prices climbed to a 10 month high in late May of this year. However, they've since pulled back to four year lows. 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 Benchmar 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.
In February, Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF) announced its subsidiary NetZero Metals is planning to develop a US$1 billion nickel-processing plant in Ontario that will become North America’s largest once complete.
How have Canadian nickel stocks performed in 2024? Below are the top nickel stocks in Canada on the TSXV and CSE by share price performance so far this year. TSX stocks were considered, but didn't make the cut.
All year-to-date and share price data was obtained on December 13, 2024, using TradingView’s stock screener. The top nickel stocks in Canada listed had market caps above C$10 million at that time.
Year-to-date gain: 533.33 percent
Market cap: C$35.9 million
Share price: C$0.19
Class 1 Nickel and Technologies' flagship property is its Alexo-Dundonald nickel project near Timmins, Ontario. The past-producing asset hosts four nickel sulfide deposits. The company’s pipeline also includes the past-producing Somanike nickel-copper project near Val-d’Or, Québec, and the River Valley platinum-group metals (PGMs) project near Sudbury, Ontario.
Class 1 Nickel released resource estimate updates for the Alexo South and Alexo North deposits in April and May of this year, respectively. The company said it expects to start work on a preliminary economic assessment for Alexo-Dundonald in the near term as part of its plan to bring the asset back into production.
On October 3, Class 1 Nickel put out an updated resource estimate for the Dundonald South nickel deposit. In the indicated category, the company reported a 781 percent increase in metric tons of ore and a 474 percent increase in pounds of nickel.
The Canadian nickel exploration company's share price started off the year at C$0.06, and began climbing in April to reach a year-to-date high of C$0.40 on November 18.
Year-to-date gain: 318.18 percent
Market cap: C$187.23 million
Share price: C$0.92
Power Nickel is developing its 80 percent owned Nisk polymetallic property in Québec, which hosts nickel, copper, platinum and palladium mineralization. According to the company, it plans to create Canada's first carbon-neutral nickel mine. The polymetallic nature of the project is a plus for the economic case for future nickel production in a low price environment.
This ongoing work has generated positive news flow for the company in 2024. After starting the year at C$0.24, Power Nickel began gaining in mid-April following two key announcements. First, the company released drill results from the newly discovered Lion zone 5 kilometers northeast of the main Nisk deposit. Shortly after, it announced the completion of its option to earn an 80 percent stake in Nisk from Critical Elements Lithium (TSXV:CRE,OTCQX:CRECF).
Power Nickel’s share price jumped more than 15 percent on May 10 to reach C$0.64 following news that drilling continued to expand the high-grade, near-surface Lion discovery, with notable assays including 14.42 meters at 0.59 grams per metric ton (g/t) gold, 69.14 g/t silver, 8.17 percent copper, 6.25 g/t palladium, 8.44 g/t platinum and 0.58 percent nickel.
In June, Power Nickel started an 8,000 meter drill program at Nisk, and closed a flow-through offering for gross proceeds of over C$20 million. Some of the biggest names in mining — Robert Friedland and Rob McEwen — participated.
The company's excellent news flow continued into the fourth quarter with a series of stellar drill results from its Nisk winter drill program, including significant intersections as shared in its October 3, October 28 and November 11 news releases. Additionally, on December 5, Power Nickel announced it was executing a spinout of its interest in the Golden Ivan property in Chile into a wholly owned subsidiary called Chilean Metals.
Power Nickel continued to climb before peaking at a year-to-date high of C$0.96 on December 12. On that same day, the company released another set of positive assay results from its work at Nisk.
Year-to-date gain: 234.15 percent
Market cap: C$214.48 million
Share price: C$1.37
Magna Mining is a base metal exploration and development company based in Sudbury, Ontario.
The company’s flagship assets are the Shakespeare mine and the Crean Hill project. Shakespeare is a past-producing nickel-copper-PGMs 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 is a past-producing nickel, copper and PGMs mine.
In March, Magna announced the signing of a definitive offtake agreement with Vale Base Metals' wholly owned subsidiary Vale Canada for the advanced exploration portion of Crean Hill. A few months later, in June, it inked a toll-milling agreement with Glencore Canada for the surface bulk sample of the 109 Footwall zone at Crean Hill.
The company entered into a definitive share purchase agreement with a subsidiary of KGHM Polska Miedz (FWB:KGHA) to acquire a portfolio of base metals assets located in the Sudbury Basin, including the producing McCreedy West copper-nickel mine. In November, Magna completed an updated preliminary economic assessment at Crean Hill.
Magna's share price started off the year at C$0.57, and gradually climbing to double its value by September 13. It reached a year-to-date high of C$1.67 on December 4.
Year-to-date gain: 108.7 percent
Market cap: C$27.19 million
Share price: C$0.24
Tartisan Nickel is a Canadian battery metals exploration and development company that's focused on developing the Kenbridge nickel-copper-cobalt project located in Northwestern Ontario, Canada.
Tartisan acquired additional exploration claims for Kenbridge in mid-May. In November, the company closed a C$1.5 million flow-through financing with proceeds primarily going to fund the exploration and development of the project.
Shares of Tartisan Nickel fluctuated significantly in 2024. The company kicked off the year at C$0.19 before falling to a low of C$0.10 on March 12. However, its share price climbed rapidly in May to reach a year-to-date high of C$0.26 on May 16. Although shares fell as low as C$0.12 in late June, their value doubled back up to C$0.24 on December 13.
Year-to-date gain: 70.83 percent
Market cap: C$38.41 million
Share price: C$0.41
EV Nickel’s primary project is the 30,000 hectare Shaw Dome asset, which is situated near Timmins, Ontario. The property includes the high-grade W4 deposit, which has a resource of 2 million metric tons at 0.98 percent nickel for 43.3 million pounds of Class 1 nickel across the measured, indicated and inferred categories.
Shaw Dome also holds the large-scale CarLang A zone, which has a resource of 1 billion metric tons at 0.24 percent nickel for 5.3 billion pounds of Class 1 nickel across the indicated and inferred categories.
EV Nickel is working on integrating carbon capture and storage technology for large-scale clean nickel production, and has procured funding from the Canadian government and Ontario's provincial government. In late 2023, the company announced it was moving its carbon capture research and development to the pilot plant stage.
The company's news in 2024 includes the closure of a flow-through financing in March that ultimately saw EV Nickel raise C$5.12 million to fund the development of its high-grade, large-scale nickel resources.
In April, EV Nickel launched an exploration program that is aimed at advancing the CarLang trend and exploring other nickel targets. The most recent news out of the program came in early September with the announcement that diamond drilling at the Langmuir #2 high-priority nickel target had confirmed high-grade nickel, with intercepts such as 18.5 meters grading 1.07 percent nickel, 7.5 meters grading 1.67 percent nickel, 2 meters grading 3.27 percent nickel and 1 meter grading 5.11 percent nickel. EV Nickel described the results as "very encouraging."
The Canadian nickel exploration company's share price started off the year at C$0.30 before steadily climbing to reach a year-to-date high of C$0.79 on May 17.
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.
Editorial Disclosure: Canada Nickel Company is a client of the Investing News Network. This article is not paid-for content.
Nickel has traditionally been used in alloys such as stainless steel. However, in recent years, growing demand for lithium-ion batteries has brought attention to its role in the quickly developing battery sector.
In Australia, the country's largest nickel-mining stocks are providing key support for both markets.
Nickel saw strong volatility in the first half of 2024 as Indonesian supply continued to flood the market, with some companies curtailing their production as the price fell below the US$16,000 per tonne mark in February.
A broad increase in commodities prices in April and May pushed nickel to a year-to-date high of US$21,615, but the base metal wasn't able to hold on to those gains and quickly dropped below the US$16,000 mark. Despite a boost past US$18,000 in early October, as of December 17, nickel prices were back down to US$15,775.
Given the challenges for nickel in 2024, share prices for many Australian producers have declined. However, with the long-term outlook for nickel looking more robust, there may be chances for less risk-averse investors to find entry points.
Below are the five largest nickel stocks on the ASX by market cap. Data for this list was gathered using TradingView's stock screener, and all values were accurate as of December 17, 2024.
Market cap: AU$204.67 billion
Share price: AU$40.52
BHP is a diversified mining company with headquarters in Melbourne, Australia. Worldwide, BHP runs dozens of mines that span North and South America and Australia. The company produces nickel sulphide ore out of its operations in Western Australia's Northern Goldfields area. It covers the mining, development and production of nickel until both matte and metal are ready to be shipped to buyers. BHP sells over 85 percent of its nickel to the electric vehicle (EV) industry.
BHP is on its way toward net-zero nickel production. In September 2022, its Nickel West division signed a deal with renewable energy company Enel Green Power to begin construction of the Flat Rocks wind farm in Western Australia. The project is set to include 18 wind turbines, and they will be the tallest wind turbines in Western Australia. As of October 2023, more than half of the wind turbines were already in place. The first stage of the wind farm is expected to provide enough energy to power BHP's Kalgoorlie nickel smelter and Kambalda concentrator once complete.
In the operational review for its 2024 fiscal year, which ended on June 30, BHP reported production of 81,600 tonnes of nickel during the period, a 2 percent increase compared to its 2023 fiscal year. This came in at the middle range of the major mining company's 2024 guidance, which was set at 77,000 to 87,000 tonnes.
In October, BHP temporarily suspended nickel production from Nickel West due to oversupply and low prices, but will continue to invest in the site to enable a restart and support. It will review the decision by February 2027.
Market cap: AU$3.79 billion
Share price: AU$5.09
IGO is a diversified miner that produces several different metals, but its focus is on its 100 percent owned Nova nickel-copper-cobalt operation. Nova is located in Western Australia's Fraser Range and primarily produces nickel.
The company's results for its first fiscal quarter of 2025 show that nickel production from Nova came in at 3,692 tonnes, down 42 percent from the previous quarter on reduced ore grades and a flow through to recoveries.
IGO's other nickel production operation is Forrestania, which was placed on care and maintenance as of the December quarter of 2024. Forrestania put out 802 tonnes in Q1, down 36 percent from the previous quarter due to the earlier-than-planned closure of the Spotted Quoll mine following a major seismic event in July.
IGO also has a 49 percent stake in the Tianqi Lithium Energy Australia joint venture with Tianqi Lithium (SZSE:002466,HKEX:9696). The joint venture has 51 percent ownership of Greenbushes, Australia's largest lithium mine.
Market cap: AU$3.78 billion
Share price: AU$0.84
New South Wales-based Nickel Industries, formerly Nickel Mines, is a significant producer of nickel pig iron, a critical component in manufacturing stainless steel. The company began producing high-grade nickel matte for EVs in 2022.
Nickel Industries has 80 percent interests in multiple nickel rotary kiln electric furnace (RKEF) operations in Indonesia: Hengjaya Nickel, Oracle Nickel and Ranger Nickel in the Morowali Industrial Park, and Angel Nickel in the Weda Bay Industrial Park. It also has an 80 percent interest in the Hengjaya nickel mine near the Morowali Industrial Park.
In the company's 2023 annual report, it reported that its operations set a nickel production record of 131,126 tonnes. This included contained nickel in the 834,192 tonnes of nickel pig iron it produced with an average grade of 12.9 percent nickel, along with additional low-grade matte production of 119,822 tonnes grading 17.1 percent.
In its June quarterly report, the company said it had brought its interest in the Excelsior nickel-cobalt project up to 44 percent, an increase of 30.25 percent. The project is under construction and is expected to commissioned ahead of October 2025. Nickel Industries' September quarterly report shows that the period was the company's strongest quarter of the year, delivering over US$100 million in EBITDA from operations.
Market cap: AU$183.78 million
Share price: AU$0.375
Centaurus Metals is a mining and development company based in Brazil.
According to the company, its goal is to become a major supplier of nickel sulphide to help provide a cleaner and greener future. The firm has its sights set on the development of its wholly owned Jaguar nickel-copper-cobalt project, which is located in Brazil's Carajás mineral province.
On July 2, Centaurus released a feasibility study for Jaguar forecasting an after-tax net present value of AU$997 million with an internal rate of return of 31 percent and payback period of 2.7 years from first production.
The following month, the company released an updated mineral resource estimate of 138.2 million tonnes at 0.87 percent nickel for 1.2 million tonnes of contained nickel. This includes measured and indicated resources of 112.6 million tonnes at 0.87 percent nickel for 978,900 tonnes of contained nickel. According to Centaurus, an underground scoping study is now underway on the high-grade nickel resource immediately below the feasibility study pit.
Market cap: AU$69.89 million
Share price: AU$0.335
Ardea Resources is developing its wholly owned Kalgoorlie nickel-cobalt project 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.” Ardea is currently working toward a planned definitive feasibility study (DFS).
A 2023 prefeasibility study for 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 July 2023, the company signed a memorandum of understanding to develop Goongarrie Hub with a Japanese consortium consisting of Sumitomo Metal Mining (TSE:5713), Mitsubishi (TSE:8058) and Mitsui (TSE:8031). On February 29, Ardea shared that it had agreed with the consortium on a DFS budget and the scope of work for the study.
On August 14, the consortium obtained approval from the Australian Foreign Investment Review Board for its investment; it also received merger control clearance from the Korea Fair Trade Commission.
Ardea provided an update on progress toward Kalgoorlie's DFS in its September quarterly report.
Article by Melissa Pistilli; FAQs by Lauren Kelly.
This is an updated version of an article first published by the Investing News Network in 2018.
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.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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Nickel market activity has been underwhelming for the past couple of years as supply exceeds demand.
This trend continued in 2024's final quarter, with Indonesian supply being the primary force weighing on prices. Indonesia is the largest source of nickel globally, with much output destined for Chinese-owned refineries in the country.
Meanwhile, demand stayed weak as China’s economy continued to sputter. The Asian nation's housing and manufacturing markets are important demand drivers for nickel, which is used in stainless steel products.
Read on to learn what other key factors moved the nickel sector in 2024.
Nickel reached its 2024 peak of US$21,615 per metric ton on May 20, but was back below the US$16,000 mark by the end of July. Following some volatility in August and September, it reached US$18,221 on October 2.
However, higher prices were not to last, and nickel spent much of Q4 in a downward trend.
By the end of October, nickel had fallen to US$15,732 before climbing back to US$16,607 on November 7.
Since then, the nickel market's downtrend has largely continued. On December 19, the metal slumped to its 2024 low of US$15,090, ultimately ending the year at US$15,300 on December 31.
Nickel price, Q4 2024.
Chart via Trading Economics.
As mentioned, nickel’s weak price performance is largely due to high output from Indonesia and low demand, particularly from Asian markets, as China’s recovery has failed to gain traction.
Against that backdrop, Indonesia said on December 19 that it was considering cutting mining quotas to boost prices. The move would reduce the amount of nickel ore allowed to be mined almost in half, to 150 million metric tons in 2025.
Additionally, Indonesia is looking to tighten environmental regulation compliance for miners in the new year, which could increase volatility for metals including nickel. The move comes not long after the country signed several new agreements in November with Chinese companies that would see billions invested in Indonesian nickel operations.
Indonesia had previously worked to distance itself from partnerships with China as it sought to improve relations with the US and be included under the country's US Inflation Reduction Act (IRA).
The new agreements emerged shortly after Donald Trump won the US presidential election on November 7. Trump’s return to the Oval Office is unlikely to bode well for Indonesian officials seeking to secure a trade deal with the US. However, a loosening of rules in the IRA might create new inroads for Indonesian nickel producers.
The story since the start of the year has been high output from Indonesian operations.
Low prices saw some nickel producers, including major miner First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) and Australia’s Wyloo Metals, cut production. However, New Caledonia was most affected. The country is highly dependent on its nickel sector, with industry giants like Glencore (LSE:GLEN,OTC Pink:GLCNF), Eramet (EPA:ERA) and raw materials trader Trafigura owning significant stakes in nickel producers in the country.
Ultimately, cuts there led to a 200 million euro bailout package from the French government, which exacerbated tensions over New Caledonia's independence from France. Opponents of the agreement argued that it risks the territory's sovereignty, and that mining companies aren’t contributing enough to bail out the mines, which employ thousands.
The second quarter was defined by a surge in nickel prices.
Positive momentum began to work its way into the market at the end of Q1, as Indonesia experienced delays in approving mining output quotas and speculation grew that Russian nickel could be sanctioned by the US and UK.
On April 12, news broke that Washington and London had banned US and UK metal exchanges from admitting new aluminum, copper and nickel from Russia. Taking immediate effect, the prohibitions also halted the import of those metals, causing prices to soar to a year-to-date high of US$21,615 on May 20.
At the time, Joe Mazumdar, editor of Exploration Insights, suggested this move would have little impact on the sector.
“That nickel is still going to make it into the market, it’s just going to go to a different exchange, probably Shanghai … So I could still see that nickel moving and getting consumed in the global market — it’s just not coming to the west,” he explained to the Investing News Network in an interview.
Ultimately, by the end of the quarter, the price was trending toward US$17,000.
Nickel saw a strong end to the third quarter, with prices rising above the US$18,000 mark.
Nickel found support in September as the Chinese government introduced a raft of stimulus measures intended to boost economic growth in the country. Among the measures were a 0.5 percent interest rate cut on existing mortgages, and a reduction in the downpayment required to purchase a home to 15 percent from 25 percent.
The announcement came alongside cuts at Chinese smelters as they were forced to deal with a shortage in feeder supply due to more delays to Indonesia’s permitting and quota system.
The nickel market is expected to remain oversupplied for some time.
With China’s economy on a slow path to recovery, demand is projected to remain weak. Meanwhile, supply will likely hinge on whether Indonesia chooses to make significant cuts to its output.
While demand for nickel in electric vehicle batteries is expected to be up 27 percent year-on-year in 2024, producers have also been pursuing alternatives that don’t require as much nickel. Additionally, more consumers are looking to plug-in hybrid vehicles with smaller batteries that require less nickel.
Even with the increased demand from the battery sector, nickel is primarily used in stainless steel products, which are still dominated by the Chinese manufacturing and real estate sectors.
Perhaps the most significant factors to consider are political. A new administration in the US and a shift in its approach to sourcing critical metals like nickel could alter the landscape for nickel producers in 2025.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
The nickel market has faced challenges over the past few years due to a supply glut and weak demand.
Even though the price of nickel surged in the first quarter of 2024, higher prices didn’t last. By the end of the year, any gains the base metal had made were erased, and it entered 2025 in the US$15,000 to US$15,200 per metric ton range.
What's in store for the rest of the year, and what nickel trends should investors be watching?
Indonesian supply is a key reason nickel prices are under pressure, as is a lack of demand growth.
In comments emailed to the Investing News Network (INN), Ewa Manthey, commodities strategist at ING, suggested that the situation isn’t likely to change for nickel in 2025.
“We believe nickel’s underperformance is likely to continue — at least in the near term — amid weakening demand and a sustained market surplus. A surge in output in Indonesia has dragged nickel lower over recent years, and demand from the stainless steel and electric vehicle (EV) battery sectors continues to disappoint,” she said.
Her statement follows recently introduced measures from China. Set to take effect in 2025, they involve injecting US$1.4 trillion over the next five years, and are meant to help the country’s ailing economy.
However, past measures introduced in 2024, particularly those in September, have yet to significantly affect the nation's housing and manufacturing sectors, which are net demand drivers for stainless steel.
Jason Sappor, senior analyst, metals and mining research, at S&P Global Commodity Insights, expressed similar sentiments about nickel's 2025 performance in comments to INN.
“We expect the market to remain oversupplied in 2025, as Indonesia and China’s primary nickel output expands further,” he said. Sappor added that subdued prices could lead to further output curtailments across the industry. This would be in addition to cuts already made at various operations around the world, particularly in Oceania.
The situation even has top producer Indonesia considering restricting output.
“The latest news reports that Indonesia’s government is considering making deep cuts to nickel-mining quotas to boost prices also highlight that the implementation of restrictions on the country’s nickel output should not be ignored as a risk to forecasts for the market to stay in surplus in 2025,” Sappor said.
For her part, Manthey suggested that cuts to nickel supply in 2024 did little to upset the market surplus — instead, they may have solidified Indonesia’s dominance over the industry.
“The recent supply curtailments also limit the supply alternatives to the dominance of Indonesia, where the majority of production is backed by Chinese investment. This comes at a time when the US and the EU are looking to reduce their dependence on third countries to access critical raw materials, including nickel,” she said.
One of the biggest factors that could come into play in 2025 is Donald Trump's return to the White House.
During his campaign, Trump made several promises that could lead to a shift in the US’ environmental and energy transition policies. While nothing is set in stone just yet, the actions he takes could include reversing commitments made under the Paris Agreement and ending tax credits for EVs.
A significant unknown is how Trump will approach the Inflation Reduction Act (IRA).
The program, which was established under the outgoing Biden administration, was designed to stimulate a move away from fossil fuels, while also supporting the procurement of friendly supply of low-carbon nickel.
One part of the IRA has made it challenging for Indonesia to export nickel to the US. As it stands, EVs must meet foreign entity of concern (FEOC) rules to qualify for the US$7,500 tax credit outlined under the IRA.
The US considers nations like China, Russia, Iran and North Korea to be areas of concern. Under rule 30D of the act, these nations cannot control more than 25 percent of the board seats, voting rights or equity interests of any company that supplies critical minerals for EV batteries destined for the US.
This has been a major obstacle for Indonesia as it has worked to build a trade partnership with the US.
Manthey outlined how Trump may seek to tighten rules, making a trade pact with Indonesia more difficult.
“Indonesia has been trying to reduce China-based ownership of new nickel projects to help its nickel sector qualify for the IRA tax credits. Tighter FEOC rules would create more issues for nickel supply chains, and would be an obstacle to Indonesia’s goal of expanding its export market to the US,” she said.
Manthey also said if the rules are tightened, primary and intermediate production will continue to be sent to China.
Barring any major shift in the supply and demand environment, nickel prices are unlikely to see significant gains over the next year. For investors, this is likely to make for a less supportive environment.
“The surplus in the Class 1 market is reflected in the rising exchange stocks," said Manthey.
"Further inflows of Chinese and Indonesian metal into the exchange’s sheds could put additional downward pressure on the London Metal Exchange’s nickel prices," she added in her comments to INN.
For Manthey, the potential upside would be stronger stainless steel output or restricted ore supply from Indonesia. However, slower EV market growth or the cancellation of some incentives in the US could offset this.
Overall, she isn’t expecting large price movements in the coming year.
“We forecast nickel prices to remain under pressure next year as the surplus in the global market continues. We see prices averaging US$15,700 in 2025,” Manthey said.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: FPX Nickel is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
After trending down in 2023, nickel prices climbed to a 10 month high in late May of this year. However, they've since pulled back to four year lows. 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 Benchmar 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.
In February, Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF) announced its subsidiary NetZero Metals is planning to develop a US$1 billion nickel-processing plant in Ontario that will become North America’s largest once complete.
How have Canadian nickel stocks performed in 2024? Below are the top nickel stocks in Canada on the TSXV and CSE by share price performance so far this year. TSX stocks were considered, but didn't make the cut.
All year-to-date and share price data was obtained on December 13, 2024, using TradingView’s stock screener. The top nickel stocks in Canada listed had market caps above C$10 million at that time.
Year-to-date gain: 533.33 percent
Market cap: C$35.9 million
Share price: C$0.19
Class 1 Nickel and Technologies' flagship property is its Alexo-Dundonald nickel project near Timmins, Ontario. The past-producing asset hosts four nickel sulfide deposits. The company’s pipeline also includes the past-producing Somanike nickel-copper project near Val-d’Or, Québec, and the River Valley platinum-group metals (PGMs) project near Sudbury, Ontario.
Class 1 Nickel released resource estimate updates for the Alexo South and Alexo North deposits in April and May of this year, respectively. The company said it expects to start work on a preliminary economic assessment for Alexo-Dundonald in the near term as part of its plan to bring the asset back into production.
On October 3, Class 1 Nickel put out an updated resource estimate for the Dundonald South nickel deposit. In the indicated category, the company reported a 781 percent increase in metric tons of ore and a 474 percent increase in pounds of nickel.
The Canadian nickel exploration company's share price started off the year at C$0.06, and began climbing in April to reach a year-to-date high of C$0.40 on November 18.
Year-to-date gain: 318.18 percent
Market cap: C$187.23 million
Share price: C$0.92
Power Nickel is developing its 80 percent owned Nisk polymetallic property in Québec, which hosts nickel, copper, platinum and palladium mineralization. According to the company, it plans to create Canada's first carbon-neutral nickel mine. The polymetallic nature of the project is a plus for the economic case for future nickel production in a low price environment.
This ongoing work has generated positive news flow for the company in 2024. After starting the year at C$0.24, Power Nickel began gaining in mid-April following two key announcements. First, the company released drill results from the newly discovered Lion zone 5 kilometers northeast of the main Nisk deposit. Shortly after, it announced the completion of its option to earn an 80 percent stake in Nisk from Critical Elements Lithium (TSXV:CRE,OTCQX:CRECF).
Power Nickel’s share price jumped more than 15 percent on May 10 to reach C$0.64 following news that drilling continued to expand the high-grade, near-surface Lion discovery, with notable assays including 14.42 meters at 0.59 grams per metric ton (g/t) gold, 69.14 g/t silver, 8.17 percent copper, 6.25 g/t palladium, 8.44 g/t platinum and 0.58 percent nickel.
In June, Power Nickel started an 8,000 meter drill program at Nisk, and closed a flow-through offering for gross proceeds of over C$20 million. Some of the biggest names in mining — Robert Friedland and Rob McEwen — participated.
The company's excellent news flow continued into the fourth quarter with a series of stellar drill results from its Nisk winter drill program, including significant intersections as shared in its October 3, October 28 and November 11 news releases. Additionally, on December 5, Power Nickel announced it was executing a spinout of its interest in the Golden Ivan property in Chile into a wholly owned subsidiary called Chilean Metals.
Power Nickel continued to climb before peaking at a year-to-date high of C$0.96 on December 12. On that same day, the company released another set of positive assay results from its work at Nisk.
Year-to-date gain: 234.15 percent
Market cap: C$214.48 million
Share price: C$1.37
Magna Mining is a base metal exploration and development company based in Sudbury, Ontario.
The company’s flagship assets are the Shakespeare mine and the Crean Hill project. Shakespeare is a past-producing nickel-copper-PGMs 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 is a past-producing nickel, copper and PGMs mine.
In March, Magna announced the signing of a definitive offtake agreement with Vale Base Metals' wholly owned subsidiary Vale Canada for the advanced exploration portion of Crean Hill. A few months later, in June, it inked a toll-milling agreement with Glencore Canada for the surface bulk sample of the 109 Footwall zone at Crean Hill.
The company entered into a definitive share purchase agreement with a subsidiary of KGHM Polska Miedz (FWB:KGHA) to acquire a portfolio of base metals assets located in the Sudbury Basin, including the producing McCreedy West copper-nickel mine. In November, Magna completed an updated preliminary economic assessment at Crean Hill.
Magna's share price started off the year at C$0.57, and gradually climbing to double its value by September 13. It reached a year-to-date high of C$1.67 on December 4.
Year-to-date gain: 108.7 percent
Market cap: C$27.19 million
Share price: C$0.24
Tartisan Nickel is a Canadian battery metals exploration and development company that's focused on developing the Kenbridge nickel-copper-cobalt project located in Northwestern Ontario, Canada.
Tartisan acquired additional exploration claims for Kenbridge in mid-May. In November, the company closed a C$1.5 million flow-through financing with proceeds primarily going to fund the exploration and development of the project.
Shares of Tartisan Nickel fluctuated significantly in 2024. The company kicked off the year at C$0.19 before falling to a low of C$0.10 on March 12. However, its share price climbed rapidly in May to reach a year-to-date high of C$0.26 on May 16. Although shares fell as low as C$0.12 in late June, their value doubled back up to C$0.24 on December 13.
Year-to-date gain: 70.83 percent
Market cap: C$38.41 million
Share price: C$0.41
EV Nickel’s primary project is the 30,000 hectare Shaw Dome asset, which is situated near Timmins, Ontario. The property includes the high-grade W4 deposit, which has a resource of 2 million metric tons at 0.98 percent nickel for 43.3 million pounds of Class 1 nickel across the measured, indicated and inferred categories.
Shaw Dome also holds the large-scale CarLang A zone, which has a resource of 1 billion metric tons at 0.24 percent nickel for 5.3 billion pounds of Class 1 nickel across the indicated and inferred categories.
EV Nickel is working on integrating carbon capture and storage technology for large-scale clean nickel production, and has procured funding from the Canadian government and Ontario's provincial government. In late 2023, the company announced it was moving its carbon capture research and development to the pilot plant stage.
The company's news in 2024 includes the closure of a flow-through financing in March that ultimately saw EV Nickel raise C$5.12 million to fund the development of its high-grade, large-scale nickel resources.
In April, EV Nickel launched an exploration program that is aimed at advancing the CarLang trend and exploring other nickel targets. The most recent news out of the program came in early September with the announcement that diamond drilling at the Langmuir #2 high-priority nickel target had confirmed high-grade nickel, with intercepts such as 18.5 meters grading 1.07 percent nickel, 7.5 meters grading 1.67 percent nickel, 2 meters grading 3.27 percent nickel and 1 meter grading 5.11 percent nickel. EV Nickel described the results as "very encouraging."
The Canadian nickel exploration company's share price started off the year at C$0.30 before steadily climbing to reach a year-to-date high of C$0.79 on May 17.
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.
Editorial Disclosure: Canada Nickel Company is a client of the Investing News Network. This article is not paid-for content.
Read on to learn what other key factors moved the nickel sector in 2024.
Nickel reached its 2024 peak of US$21,615 per metric ton on May 20, but was back below the US$16,000 mark by the end of July. Following some volatility in August and September, it reached US$18,221 on October 2.
However, higher prices were not to last, and nickel spent much of Q4 in a downward trend.
By the end of October, nickel had fallen to US$15,732 before climbing back to US$16,607 on November 7.
Since then, the nickel market's downtrend has largely continued. On December 19, the metal slumped to its 2024 low of US$15,090, ultimately ending the year at US$15,300 on December 31.
Nickel price, Q4 2024.
Chart via Trading Economics.
As mentioned, nickel’s weak price performance is largely due to high output from Indonesia and low demand, particularly from Asian markets, as China’s recovery has failed to gain traction.
Against that backdrop, Indonesia said on December 19 that it was considering cutting mining quotas to boost prices. The move would reduce the amount of nickel ore allowed to be mined almost in half, to 150 million metric tons in 2025.
Additionally, Indonesia is looking to tighten environmental regulation compliance for miners in the new year, which could increase volatility for metals including nickel. The move comes not long after the country signed several new agreements in November with Chinese companies that would see billions invested in Indonesian nickel operations.
Indonesia had previously worked to distance itself from partnerships with China as it sought to improve relations with the US and be included under the country's US Inflation Reduction Act (IRA).
The new agreements emerged shortly after Donald Trump won the US presidential election on November 7. Trump’s return to the Oval Office is unlikely to bode well for Indonesian officials seeking to secure a trade deal with the US. However, a loosening of rules in the IRA might create new inroads for Indonesian nickel producers.
The story since the start of the year has been high output from Indonesian operations.
Low prices saw some nickel producers, including major miner First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) and Australia’s Wyloo Metals, cut production. However, New Caledonia was most affected. The country is highly dependent on its nickel sector, with industry giants like Glencore (LSE:GLEN,OTC Pink:GLCNF), Eramet (EPA:ERA) and raw materials trader Trafigura owning significant stakes in nickel producers in the country.
Ultimately, cuts there led to a 200 million euro bailout package from the French government, which exacerbated tensions over New Caledonia's independence from France. Opponents of the agreement argued that it risks the territory's sovereignty, and that mining companies aren’t contributing enough to bail out the mines, which employ thousands.
The second quarter was defined by a surge in nickel prices.
Positive momentum began to work its way into the market at the end of Q1, as Indonesia experienced delays in approving mining output quotas and speculation grew that Russian nickel could be sanctioned by the US and UK.
On April 12, news broke that Washington and London had banned US and UK metal exchanges from admitting new aluminum, copper and nickel from Russia. Taking immediate effect, the prohibitions also halted the import of those metals, causing prices to soar to a year-to-date high of US$21,615 on May 20.
At the time, Joe Mazumdar, editor of Exploration Insights, suggested this move would have little impact on the sector.
“That nickel is still going to make it into the market, it’s just going to go to a different exchange, probably Shanghai … So I could still see that nickel moving and getting consumed in the global market — it’s just not coming to the west,” he explained to the Investing News Network in an interview.
Ultimately, by the end of the quarter, the price was trending toward US$17,000.
Nickel saw a strong end to the third quarter, with prices rising above the US$18,000 mark.
Nickel found support in September as the Chinese government introduced a raft of stimulus measures intended to boost economic growth in the country. Among the measures were a 0.5 percent interest rate cut on existing mortgages, and a reduction in the downpayment required to purchase a home to 15 percent from 25 percent.
The announcement came alongside cuts at Chinese smelters as they were forced to deal with a shortage in feeder supply due to more delays to Indonesia’s permitting and quota system.
The nickel market is expected to remain oversupplied for some time.
With China’s economy on a slow path to recovery, demand is projected to remain weak. Meanwhile, supply will likely hinge on whether Indonesia chooses to make significant cuts to its output.
While demand for nickel in electric vehicle batteries is expected to be up 27 percent year-on-year in 2024, producers have also been pursuing alternatives that don’t require as much nickel. Additionally, more consumers are looking to plug-in hybrid vehicles with smaller batteries that require less nickel.
Even with the increased demand from the battery sector, nickel is primarily used in stainless steel products, which are still dominated by the Chinese manufacturing and real estate sectors.
Perhaps the most significant factors to consider are political. A new administration in the US and a shift in its approach to sourcing critical metals like nickel could alter the landscape for nickel producers in 2025.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
