Nickel Miners News For The Month Of August 2024

HT Ganzo Welcome to the nickel miners news for August. The past month saw nickel prices higher. Nickel price news As of August 30, the nickel spot price ( LN1:COM ) was USD 7.

54/lb , up from USD $7.05/lb last month. LME shows the price at USD $ 16,730/tonne .



Nickel inventory at the London Metals Exchange [LME] was higher the past month at 117,534 tonnes (104,388 tonnes last month). Nickel spot price 5 year chart — Current price = USD 7.54/lb Mining.

com Nickel demand vs. supply chart INSG forecasts a third consecutive year of nickel oversupply in 2024 ( source ) Reuters courtesy INSG S&P Global Market Intelligence forecast nickel oversupply to 2027, then a “primary” nickel deficit starting in 2028 (as of June 2024) ( source ) S&P Global Benchmark Mineral Intelligence forecasts deficits for lithium, nickel & cobalt to increase from 2027 onwards ( source ) BMI Trend Investing vs. IEA demand forecast for EV metals ( Trend Investing ) ( IEA ) Trend Investing & the IEA 2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 — Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, and Copper 2x to 3x ( source ) IEA 2022 — IEA forecasts 60 new nickel mines needed by 2030 IEA BMI forecasts we need 330+ new EV metal mines from 2022 to 2035 to meet surging demand — 72 new 45,500tpa nickel mines needed by 2035 BMI Lithium & Nickel are the two “high importance to energy” critical materials in the medium term (2025-2035) ( source — page 29) DoE Nickel Market News On August 8 Investing News Network reported : Nickel price update: Q2 2024 in review.

.. Western nickel producers cut output amid low prices.

..Despite the nickel market's oversupply, there is still high demand, much of it from China.

..Long-term predictions show nickel in the US$17,000 range for 2024, slowly improving to US$23,000 level in 2028.

On August 27 Fastmarkets reported : China’s nickel sulfate market rangebound; global nickel sulfate assessed at wide range...

A second trader of nickel sulfate reported a marginal increase in the market share but said that the growth is limited compared with the lithium iron phosphate (LFP) batteries in EVs. “Currently, the share of NCM batteries in EVs could be around 26-28%, slightly up from 25-26% in June,” the second trader said..

.The upside for nickel could remain supported by a favorable macroeconomic environment in the short term, characterized by expanding global liquidity and increased risk-taking behavior, with higher expectations of an interest rate cut by the US Federal Reserve in September, according to Fastmarkets’ research analyst Andrew Cole. Nickel Company News Producers Norilsk Nickel On July 29, Norilsk Nickel announced : Consolidated production results for 1H 2024.

.. “In 1H 2024, the output of key metals saw different trends: while we increased the production of copper, the output of other metals slightly decreased.

..A small decrease in nickel production was attributed to scheduled capital repairs of the flash smelting furnace #2 at Nadezhda Metallurgical Plant.

..In 1H 2024, total nickel output remained practically unchanged y-o-y at 90 kt.

On August 23, Norilsk Nickel announced : “Nornickel reports 1Н 2024 consolidated IFRS financial results.” Highlights include: “Consolidated revenue decreased 22% y-o-y amounting to USD 5.6 billion, driven by the decline of metal prices as well as the accumulation of nickel and copper inventories following the maritime traffic restrictions in the Red Sea and other logistic issues.

EBITDA decreased 30% y-o-y to USD 2.3 billion owing to lower revenue while EBITDA margin was also down 5 percentage points. Cash operating costs decreased 9% y-o-y to USD 2.

4 billion mostly driven by the weakening of Russian rouble...

CAPEX decreased 34% y-o-y to USD 1 billion...

Free cash flow was down 61% to USD 525 mln. Free cash flow adjusted for interest and lease payments slipped into negative territory amounting to USD −159 mln. Net debt increased 24% year-to-date to USD 10.

1 billion with net debt/EBITDA ratio as of June 30, 2024 remained at 1.7x.” Vale SA (NYSE: VALE ) Vale Voisey's Bay Mine is a key Canadian and global source of nickel.

Vale plans a refinery at Bécancour in Québec to supply GM with battery grade nickel sulfate with deliveries targeted to commence in H2 2026. On July 23, Vale SA announced : “Vale Base Metals appoints Shaun Usmar as new Chief Executive Officer.” On July 25, Vale SA announced : “Financial results 2Q24.

” Highlights include: Business results “The strong shipment performance led to a Proforma EBITDA of US$ 4.0 billion. Copper and nickel all-in costs were US$ 3,651/t and US$ 15,000/t in the quarter, respectively, with both businesses on track to deliver their respective cost guidances for the year.

” Disciplined capital allocation “Capital expenditures of US$ 1.3 billion in Q2, US$ 0.1 billion higher y/y, in line with the year’s guidance (US$ ~6.

5 billion). Gross debt and leases of US$ 15.1 billion as of June 30th, 2024, US$ 0.

5 billion higher q/q mainly as a result of new loans raised by Vale S.A. and Vale Base Metals, within our liability management plan.

Expanded net debt of US$ 14.7 billion as of June 30th, 2024, US$ 1.7 billion lower q/q, mainly driven by the proceeds received from Manara Minerals, following the Vale Base Metals partnership deal.

Vale’s expanded net debt target remains at US$ 10-20 billion.” Value creation and distribution “US$ 1.6 billion in interest on capital to be paid in September 2024, consistent with Vale’s minimum dividend policy applied to 1H24 results.

Allocation of US$ 114 million as part of the 4th buyback program in the quarter.” Glencore [HK:805] [LSE:GLEN] ( OTCPK:GLCNF ) On July 30, Glencore announced : Half-Year Production Report 2024..

. Glencore Chief Executive Officer, Gary Nagle: " Across the portfolio, our full-year 2024 production guidance has been maintained ..

. Key anticipated H2 over H1 higher production levels include African Copper: +c.30kt (recovery from H1 mill outage, access to higher grade ores and higher throughput rates at Mutanda), Antapaccay: +c.

8kt (recovery from H1 geotechnical event), Kazzinc: +c.60kt (continued ramp-up at Zhairem) and Murrin Murrin: +c.3kt (reflecting the timing of its annual shutdown in April).

PS: As shown below H1, 2024 nickel production was down 5% YoY at 44.2kt. Production from own sources – Total 1 ( source ) Glencore On August 7, Glencore announced : 2024 half-year report.

Glencore’s Chief Executive Officer, Gary Nagle, commented: Against the backdrop of lower average prices for many of our key commodities during the period, particularly thermal coal, our overall Group Adjusted EBITDA of $6.3 billion was 33% below the comparable prior year period, however Funds from Operations were up 9%, due to the timing of income tax payments . We reported a Net loss attributable to equity holders of $233 million, after recognising $1.

7 billion of significant items, including c.$1.0 billion of impairment charges.

“Reflecting healthy cash generation and after funding $2.9 billion of net capital expenditure and $1.0 billion of shareholder returns, Net debt, including Marketing-related lease liabilities, finished the first half at $3.

6 billion, down $1.3 billion compared to $4.9 billion at the end of 2023.

" BHP Group [ASX:BHP] (NYSE: BHP ) BHP's Nickel West operations includes the Mt Keith Nickel Mine in Australia. Nickel West produced 81.6 kt of nickel in the '24 financial year.

In July 2024 BHP temporarily suspended Western Australia Nickel operations due to low nickel prices. Stage 1 production of the Kwinana Nickel Refinery is aimed to be 100ktpa nickel sulphate. On August 27, BHP Group announced : BHP results for the full year ended 30 June 2024.

..BHP delivered a strong set of results in FY24 on the back of solid operational performance.

..we determined a final dividend of 74 US cents per share, a 53% payout ratio.

..We have put our Western Australia Nickel operations into temporary suspension as a result of global oversupply of nickel, while continuing to support our people and communities impacted by this decision.

..Underlying attributable profit increased 2% to US$13.

7 bn due to solid operational performance and higher commodity prices in key commodities. We continued to demonstrate strong cost discipline and achieved final unit cost guidance at all assets. Note: BHP produced 81.

6kt of nickel in FY24, up 2% YoY. More BHP nickel details here on pages 17 and 18. Anglo American [LSX:AAL] ( OTCPK:AAUKF ) No significant news for the month.

Eramet [FRA:ERA] ( OTCPK:ERMAY ) No news for the month. Sherritt International ( OTCPK:SHERF )[TSX:S] No news for the month. IGO Limited [ASX:IGO] ( OTC:IIDDY ) IGO state on their website: “In June 2024, Cosmos was transitioned into care and maintenance.

IGO intends to protect the optionality to restart Cosmos in the future.” Forrestania to enter care & maintenance before end CY24 and has a divestment process pending . The Nova Mine is their flagship and low cost nickel mine.

IGO also has large lithium assets. On August 8, IGO Limited announced : Proposed divestment of Forrestania assets. IGO Limited (ASX: IGO) (IGO or the Company) advises that it has entered into an exclusivity deed [DEED] with Medallion Metals Limited (Medallion) that grants Medallion a period of exclusivity to negotiate a proposed transaction whereby Medallion will acquire the Cosmic Boy processing facility and associated infrastructure at the Forrestania Nickel Project, following the completion of nickel processing at Forrestania.

.. On August 29, IGO Limited announced : “FY24 financial results year ended 30 June 2024.

” Highlights include: Steady full year financial and operating performance. “..

.Full year revenue of $841M and statutory NPAT of $3M. Underlying1 EBITDA of $581M, underlying NPAT of $319M and underlying free cash flow of $713M.

Net cash and liquidity position improved to $468M and $1,188M respectively. Strong shareholder returns through the cycle with a final FY24 dividend of 26c per share announced (37c per share full year). Greenbushes annual spodumene production of 1,383kt achieved guidance and cash costs were at the bottom end of guidance at $330/t.

Improved Train 1 operating performance at Kwinana with further growth expected in FY25. Group nickel production of 28,376t and cash costs of $6.16 per payable pound.

Cosmos Project safely transitioned into care and maintenance. Impairment charge of $172M recorded against the Forrestania and Cosmos assets and $286M recorded against IGO’s exploration portfolio. Strengthened executive team headlined by the commencement of Ivan Vella as Managing Director and CEO on 11 December 2023.

” Sumitomo Metal Mining Co. ( OTCPK:SMMYY ) On August 7, SMM announced : “Consolidated financial results for the first quarter ended June 30, 2024.” Profit was 21,469 million yen, down 6.

9%. Nickel 28 Capital Corp. [TSXV:NKL] [GR:3JC] On August 9, Nickel 28 announced : “Nickel 28 releases Ramu Q2 2024 operating performance.

” Highlights include: “Ramu Q2 2024 production of 7,555 tonnes of contained nickel in MHP, compared to 7,784 tonnes in the same period last year. Ramu Q2 2024 production of 675 tonnes of contained cobalt in MHP, compared to 717 tonnes in the same period last year. Ramu Q2 2024 nickel sales of 7,666 tonnes of contained nickel, compared to 9,078 tonnes in the same period last year.

Ramu Q2 2024 cobalt sales of 684 tonnes of contained cobalt, compared to 822 tonnes in the same period last year...

Ramu Q2 2024 cash cost, net of by-product credits of $3.37/lb. of nickel produced as MHP, representing a decrease of 14% from the same period last year.

H1 2024 cash cost, net of by-product credits of US$3.17/lb. of nickel produced as MHP representing a decrease of 9% from the same period last year.

” Nickel Industries Limited [ASX:NIC] ( OTCPK:NICMF ) On July 31, Nickel Industries Limited announced : “Quarterly activities report for the quarter ended 30 June 2024. US$79.5M EBITDA from operations despite challenging wet season.

” Highlights include: “Increase in equity interest in ENC HPAL Project to 44%. Establishment of US$250m Indonesian bank facility. Repayment of US$245M April 2024 Notes.

” On August 26, Nickel Industries Limited announced : “Acquisition of world class nickel portfolio.” Highlights: “Conditional Share Purchase Agreements (CSPA’s) signed for the acquisition of three highly prospective, advanced, contiguous nickel IUPs (mining licenses) covering 6,654 hectares [HA] (the Sampala Project). Initial JORC 2012 compliant Mineral Resources totalling 187 million dry metric tonnes (dmt) of 1.

2% nickel and 0.09% cobalt (2.3 million tonnes of contained nickel metal and 0.

2 million tonnes of cobalt) has been estimated in just 900ha of the prospective and mapped laterite area of 4,700ha, with only 20% of a total 4,700ha of prospective mapped laterite drilled. IUPs located in close proximity to the Company’s existing refining operations within the Indonesia Morowali Industrial Park (IMIP) and the Company’s Hengjaya Mine (HM). Acquisition from the Company’s existing Indonesian partner, with whom the Company has had a long standing 15-year relationship with, on favourable terms and valuation, relative to recent Indonesian nickel resource acquisitions.

Majority of acquisition payments are expected in 2026 and the project development capex is currently expected to be similar to HM.” On August 29, Nickel Industries Limited announced : Half year financial report..

.63,814 tonnes of nickel metal produced in RKEF operations. 4,117 tonnes (attributable, 10%) of nickel metal produced in HPAL operations.

.. Other nickel producers Tsingshan Holding Group Co Ltd (private, Chinese owned stainless steel producer with large nickel mines in Indonesia ), First Quantum Minerals [TSX:FM] ( OTCPK:FQVLF ), Franco/Nevada [TSX:FNV], MMG [HK:1208], South32 [ASX:S32], Lundin Mining [TSX:LUN], Nickel Asia Corporation [PSE:NIKL], Platinum Group Metals’ [TSX:PTM] ( PLG ).

Nickel juniors Poseidon Nickel [ASX:POS] ( OTC:PSDNF ) On July 31, Poseidon Nickel announced : “Poseidon enters agreement with encore minerals to develop Windarra Tailings Project.” On July 31, Poseidon Nickel announced : “Quarterly report 30 June 2024.” Highlights include: “Strategic focus on targeted exploration and business development opportunities across several commodities, including nickel, gold, and lithium.

Black Swan presents nickel and gold processing potential: Black Swan located central to Kalgoorlie goldfields region. The Company previously considered gold processing in 2017 2. Company is considering opportunities to partner with proximal resource companies with stranded nickel or gold resources to support a future restart of Black Swan.

Near-surface nickel sulphide targets identified at Black Swan. Two highly prospective high-grade nickel targets confirmed close to surface with previous high-grade nickel drill intersections within target areas. A high-grade nickel discovery at Black Swan can potentially add to reserves for any future restart and should decrease unit costs, further improving project economics.

.. Corporate: During the quarter the Company received numerous approaches from parties interested in a corporate and/or asset transaction.

..On 8 May 2024 the Company received a notice of termination from Mineral Resources Limited in respect of the legally binding Heads of Agreement for the Lake Johnston sale.

Cost cutting initiatives have resulted in total annualised savings of circa $6 million. Company held cash and investments of $1.4 million at 30 June 2024.

” On August 1, Poseidon Nickel announced : Entitlement offer to accelerate exploration activities. One for three non-renounceable rights issue plus one free-attaching option for every three new shares issued to raise up to $3.7 million.

Talon Metals [TSX:TLO] ( OTCPK:TLOFF ) Tamarack — (JV with Rio Tinto) Tamarack is a high grade nickel-copper-cobalt project located in Minnesota, USA, with considerable exploration upside. Talon Metals owns a 51% project share, with potential to further earn-in to a 60% share by 2026. On August 14, Talon Metals announced : Talon Metals reports results for the quarter ended June 30, 2024.

Talon Metals Corp. (“Talon” or the “Company”) (TSX:TLO) reported a net loss for the three months ended June 30, 2024 of $0.7 million.

..Capitalized exploration and development costs and deferred expenditures on the Tamarack Nickel-Copper-Cobalt Project for the three months ended June 30, 2024 amounted to $6.

1 million (net of government grants received of $2.5 million). This compares to $10.

7 million for the three months ended June 30, 2023. The total capitalized exploration cost to the Tamarack Nickel-Copper-Cobalt Project to June 30, 2024 amounts to $219.9 million.

Garibaldi Resources [TSXV:GGI] [GR:RQM] [LN:OUX6] ( OTCPK:GGIFF ) No news for the month. Queensland Pacific Metals [ASX:QPM] On July 31, Queensland Pacific Metals announced : June 2024 quarterly report..

.$16m in grant funding secured to advance the TECH Project: Respective $8m grants awarded by Australian Federal Government and Queensland State Government. Catalyst for formal evaluation of demerger of TECH Project from QPM ownership structure.

Premium Nickel Resources Corporation [TSXV:PNRL]( OTCQX:PNRLF ) On August 8, Premium Nickel Resources Corporation announced : “Premium Nickel Resources Ltd. announces its initial Mineral Resource Estimate of 27.7 MT for the Selebi mines in Botswana.

” Highlights include: Selebi Main Deposit “Inferred Mineral Resource Estimate of 18.89 million tonnes at 3.51% CuEq or 1.

70% NiEq. Contained metal Inferred — 165,000 tonnes nickel and 319,000 tonnes copper.” Selebi North Deposit “Indicated Mineral Resource Estimate of 3.

00 million tonnes at 2.92% CuEq or 1.42% NiEq.

Contained metal Indicated — 29,000 tonnes nickel and 27,000 tonnes copper. Inferred Mineral Resource Estimate of 5.83 million tonnes at 3.

11% CuEq or 1.51% NiEq. Contained metal Inferred — 62,000 tonnes nickel and 52,000 tonnes copper.

” On August 15, Premium Nickel Resources Corporation announced : “Premium Nickel Resources Ltd. grants stock options.” Canada Nickel Company [TSXV:CNC]( OTCQX:CNIKF ) On July 31, Canada Nickel announced : Canada Nickel announces results from Crawford PGM Zone infill drilling campaign.

..PGM results will be included in development of a Crawford PGM Zone resource estimate and incorporated into the Crawford nickel mine plan.

.. On August 8, Canada Nickel announced : Canada Nickel achieves best drill results to date at Reid.

” Highlights include: “Best Reid interval to date – 661 metres of 0.29% nickel including 100 metres of 0.42% nickel and 40 metres of 0.

51% nickel in REI-24-35. All 8 holes targeting Reid Central Core intersected core lengths greater than 620 metres with average grades of 0.21% to 0.

29% nickel.” Ardea Resources [ASX:ARL] ( OTCPK:ARRRF ) In total, Ardea has 6.1Mt of contained nickel and 386,000t of contained cobalt at their KNP Project near Kalgoorlie in Western Australia.

Ardea is also exploring for gold and nickel sulphide on their >5,100 km2 of 100% controlled tenements in the Eastern Goldfields region of Western Australia. On August 14, Ardea Resources announced : “KNP – Goongarrie Hub Joint Venture FIRB approval received.” Highlights include: “Ardea has been notified that the consortium, consisting of Sumitomo Metal Mining Co.

, Ltd and Mitsubishi Corporation (Consortium) has obtained FIRB approval for the KNP – Goongarrie Hub incorporated joint venture. The Consortium has also obtained merger control clearance from the Korea Fair Trade Commission. Work continues on the KNP – Goongarrie Hub Definitive Feasibility Study.

” Centaurus Metals Limited [ASX:CTM] ( OTCQX:CTTZF ) Centaurus Metals is an Australian-based minerals exploration company focused on the near-term development of the Jaguar Nickel Sulphide Project, in Northern Brazil. On August 5, Centaurus Metals Limited announced : “Jaguar roars to 1.20 million tonnes of contained nickel metal cementing its position as a tier-1 global nickel sulphide project.

Updated MRE to underpin ongoing optimization work and Underground Scoping Study ahead of FID.” Highlights include: “27% increase in the JORC 2012 Mineral Resource Estimate (MRE) for the Jaguar Nickel Project in Brazil. GLOBAL: 138.

2Mt @ 0.87% Ni for 1.20 million tonnes of contained nickel.

30% increase in the Measured and Indicated component of the Global MRE. MEASURED & INDICATED: 112.6Mt @ 0.

87% Ni for 978,900 tonnes of contained nickel. The high-grade component, estimated using a 1.0% nickel cut-off grade, has continued to increase with around 25% of the high-grade material located within 100m of surface.

HIGH-GRADE: 36.1Mt @ 1.49% Ni for 537,900 tonnes of contained nickel.

Mineralization remains open both at depth and locally along plunge, with the potential to continue to expand the MRE if required. Multiple DHEM plates remain untested outside the MRE limits. An optimized mining schedule to be developed in the lead up to FID will provide the opportunity for higher nickel head grades during the project payback period.

The July 2024 Feasibility Study (FS) delivered the maiden Jaguar JORC Ore Reserve of 63Mt @ 0.73% Ni for 459,200 tonnes of contained nickel (based on the previous Nov 2022 MRE), with first quartile life-of-mine C1 cash cost and AISC of US$2.30/lb and US$3.

57/lb Ni respectively, just from open pit sources of ore. The updated MRE will underpin ongoing value engineering aimed at: Optimizing the new Resource model to incorporate the additional 30% of mineralization now in the Measured and Indicated categories of the new MRE. Optimizing the mine schedule and mining sequence – removing the refinery constraints that restricted the mine schedule in the recently delivered FS; and Undertaking further metallurgical testing to enhance the quality of the nickel concentrate product at equal or better nickel recoveries.

Concurrently, an Underground Scoping Study will be undertaken on the high-grade Resources of 21.5Mt at 1.46% Ni for 313kt of contained nickel metal (1.

0% Ni cut-off grade) that sit immediately below the FS pit designs. The Company remains well-funded with ~$25 million in cash and no debt (June 2024).” Alliance Nickel [ASX:AXN] (formerly GME Resources) No news for the month.

WIN Metals Ltd [ASX:WIN] (formerly named Widgie Nickel Limited) On July 31, WIN Metals Ltd announced : “June 2024 quarterly report.” Highlights include: “WIN Metals Ltd changed its name from Widgie Nickel Limited effective from 1 July 2024, the name change reflects the Company’s multi commodity portfolio and its focus on critical metals. The Company confirmed receipt of a $1.

17m Research and Development (R&D) Tax Incentive refund in relation to the 2022/2023 financial year. A pro rata non-renounceable entitlement offer was announced on 16 April 2024 (Offer), the Company received applications under the Offer for 21,194,774 Shares at the issue price of $0.04 per Share (New Shares) raising gross proceeds of $847,791.

Post Quarter end announcement of partial divestment of its Munda (M15/0087) tenement interests and other peripheral tenements and assets for an initial $1.2m.” On August 27, WIN Metals Ltd announced : “Munda agreement with Auric Mining Ltd concluded.

” Highlights include: “Completion of contract to sell specific mineral rights at Munda. Divestment of Nickel and Lithium rights to 150m below surface1 over a portion of M15/87 to Auric Mining Ltd. Divesting 127,000t at 1.

69% Ni resource for 2,140t of contained nickel metal2. Transfer of non-core tenure including P15/5905 & P15/5906, MLA15/1889, P15/6408, ELA15/1864, ELA15/1929 and ELA 15/1665. Provides access to in-pit water for mining operations.

Transaction nets a minimum of $1.2m to WIN. $700,000 received to date.

Balance of $500,000 payable to WIN over the next 8 months.” On August 28, WIN Metals Ltd announced : “Financial report for the year ended 30 June 2024..

.As at 30 June 2024, WIN held $1.69m cash at bank.

..” Sama Resources [TSXV: SME] [GR;8RS] ( OTCPK:SAMMF ) The Samapleu-Grata Nickel-Copper Project is a 60/40 joint venture between Ivanhoe Electric and Sama Resources.

No news for the month. Murchison Minerals [TSXV:MUR] ( OTCPK:MURMF ) No news for the month. Power Nickel [TSXV:PNPN] ( CMETF ) On August 13, Power Nickel announced : Power Nickel provides exploration update.

Power Nickel Inc. (the "Company" or " Power Nickel") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt: IVV) is pleased to provide details on the Exploration Program being deployed on its Nisk Property, Nemaska, Quebec. While the 2024 summer Drill Program at the Lion Zone continues to successfully intersect poly-metallic mineralisation, the Company has begun an extensive property scale Exploration Program, which will include downhole and ground-based geophysical surveys.

These exploration efforts are anticipated to provide a robust framework for identifying new prospective sub-surface target areas and are aiming at defining a possible continuity over the 5.5 km strike-length separating Nisk Main and the Lion Zone. On August 19, Power Nickel announced : “Power Nickel caps off impressive Lion Zone Winter Drilling Program with CuEq results of holes 50 and 60 ranging from 1.

23% to 7.36%.” Highlights include: “PN-24-060 returned: 10.

39 m of 0.19 g/t Au, 14.17 g/t Ag, 2.

12 % Cu, 2.08 g/t Pd, 0.4 g/t Pt and 0.

14% Ni...

PN-24-050 returned: 5.45 m of 0.13 g/t Au, 4.

2 g/t Ag, 0.61 % Cu, 1.32 g/t Pd, 0.

52 g/t Pt and 0.11% Ni..

.” The Metals Company ( TMC ) On August 14, The Metals Company announced : “The Metals Company provides second quarter 2024 corporate update.” Highlights include: “Current liquidity available from credit facilities of approximately $48.

3 million. Increased borrowing capacity of our unsecured credit facilities by $7.5 million in August 2024: ERAS/Barron facility from $20 million to $25 million, and Allseas Group SA affiliate facility from $25 million to $27.

5 million. $12.1 million cash used in operations for the quarter ended June 30, 2024.

Net loss of $20.2 million and net loss per share of $0.06 for the quarter ended June 30, 2024.

” Other juniors Artemis Resources [ASV:ARV], Australian Mines [ASX:AUZ], Azure Minerals [ASX:AZS] ( OTCPK:AZRMF ), Blackstone Minerals [ASX:BSX], Cassini Resources [ASX: CZI], Class 1 Nickel and Technologies Ltd. [CSE:NICO] ( OTCQB:NICLF ), Electra Battery Materials [TSXV:ELBM] ( ELBMF ), Electric Royalties [TSXV:ELEC], EV Nickel [TSXV:EVNI] ( OTCPK:EVNIF ), Flying Nickel Mining Corp. [TSXV:FLYN], FPX Nickel [TSXV:FPX], Grid Metals Corp [TSXV:GRDM], Go Metals [CSE:GOCO] ( OTCPK:GOCOF ), Huntsman Exploration [TSXV:HMAN] ( OTCPK:BBBMF ), Inomin Mines [TSXV:MINE], Jervois Global Limited [ASX:JRV] ( OTCQB:JRVMF ), New Age Metals [TXV:NAM], Nickel Creek Platinum [TSX:NCP] ( OTCQX:NCPCF ), Nordic Nickel Limited [ASX:NNL], Pancontinental Resources Corporation [TSXV:PUC], Polymet Mining [TSX:POM], Renforth Resources [CSE:RFR] ( OTCQB:RFHRF ), Rox Resources [ASX:RXL], S2 Resources (ASX:S2R), Stillwater Critical Minerals [TSXV:PGE] ( OTCQB:PGEZF ), Sunrise Energy Metals [ASX:SRL] ( OTCQX:SREMF ), Surge Battery Metals Inc.

[TSXV:NILI] [FRA:DJ5C] ( OTCQX:NILIF ), Talisman Mining Ltd. [ASX:TLM], Tartisan Nickel Corp. [CSE:TN] ( OTCQB:TTSRF ), Transition Metals [TSXV:XTM], URU Metals Ltd.

[LSE:URU] [GR:NVRA], Wall Bridge Mining [TSX:WM], and Zeb Nickel Corp. [TSXV:ZBNI] ( OTCQB:ZBNIF ). Note: Some of the above companies are covered in the Cobalt monthly news.

Nickel miners ETF Below is the Sprott Nickel Miners ETF. You can view the top holdings here . Sprott Nickel Miners ETF ( NIKL ) - One year price chart - Price = US$12.

32 Seeking Alpha Conclusion Nickel spot prices were higher the last month. Highlights for the month were: Western nickel producers cut output amid low prices. Fastmarkets - A marginal increase in the nickel sulphate market share (NMC batteries), but growth is limited compared with the LFP market.

Norilsk Nickel — In 1H 2024, total nickel output remained practically unchanged y-o-y at 90 kt. Consolidated revenue decreased 22% y-o-y amounting to USD 5.6 billion driven by the decline of metal prices.

Glencore own source H1, 2024 nickel production was down 5% YoY at 44.2kt. H1 group adjusted EBITDA of $6.

3 billion was down 33% YoY. BHP produced 81.6kt of nickel in FY24, up 2% YoY.

IGO Limited proposed divestment of Forrestania Nickel project. FY24 Group nickel production was 28,376t. Sumitomo Metal Mining — For the quarter ending June 2024, profit was 21,469 million yen, down 6.

9%. Ramu Q2 2024 production of 7,555t of contained nickel, slightly down YoY. Nickel Industries Limited announced an acquisition of world class nickel portfolio (mining licenses) in Indonesia.

Queensland Pacific Metals - A$16m in grant funding secured to advance the TECH Project. Premium Nickel Resources Ltd. announces its initial Mineral Resource Estimate of 27.

7 MT for the Selebi mines in Botswana. Canada Nickel reports best Reid interval to date – 661 metres of 0.29% Ni.

Ardea Resources KNP – Goongarrie Hub JV FIRB approval received. Centaurus Metals — 27% increase in the MRE for the Jaguar Nickel Project in Brazil. Global Resource: 138.

2Mt @ 0.87% Ni for 1.20 million tonnes of contained nickel.

Widgie Nickel Limited name changed to WIN Metals Ltd [ASX:WIN]. As usual, all comments are welcome. Editor's Note: This article discusses one or more securities that do not trade on a major U.

S. exchange. Please be aware of the risks associated with these stocks.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of BHP GROUP [ASX:BHP], VALE SA (VALE), JERVOIS GLOBAL [TSXV:JRV], ELECTRA BATTERY MATERIALS [TSXV:ELBM], WIN METALS LTD [ASX:WIN], CENTAURUS METALS LIMITED [ASX:CTM] either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha).

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