After trending down in 2023, nickel costs climbed to a ten month excessive in late Could of this yr. Nonetheless, they’ve since pulled again to four-year lows. Whereas this setting has been powerful for nickel corporations, some shares are nonetheless thriving.
Provide is predicted to outflank demand over the quick time period, however the longer-term outlook for the metallic is robust. Demand from the electrical car (EV) trade is one cause nickel’s outlook seems shiny additional into the long run.
Battery nickel demand is poised to triple by 2030, according to Benchmark. “Mid and excessive stage efficiency EVs would be the major driver of battery nickel demand progress within the coming years, notably in Western markets,” stated Jorge Uzcategui, senior nickel analyst at Benchmark. “There will likely be progress in China, however it received’t be as pronounced as in ex-China markets.”
As for Canada, nickel is listed as a high precedence within the authorities’s Critical Minerals Strategy. The nation is the world’s fifth largest producer of nickel, with a lot of its manufacturing coming from mines in Ontario’s Sudbury Basin, together with Vale’s (NYSE:VALE) Sudbury operation and Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Sudbury Built-in Nickel Operations.
In February, Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF) introduced its subsidiary NetZero Metals is planning to develop a US$1 billion nickel-processing plant in Ontario that may turn out to be North America’s largest as soon as full.
How have Canadian nickel shares carried out in 2024? Beneath are the highest nickel shares in Canada on the TSXV and CSE by share worth efficiency to this point this yr. TSX shares have been thought of, however did not make the lower.
All year-to-date and share worth information was obtained on December 13, 2024, utilizing TradingView’s stock screener. The highest nickel shares in Canada listed had market caps above C$10 million at the moment.
1. Class 1 Nickel and Technologies (CSE:NICO)
Yr-to-date achieve: 533.33 %
Market cap: C$35.9 million
Share worth: C$0.19
Class 1 Nickel and Applied sciences’ flagship property is its Alexo-Dundonald nickel undertaking close to Timmins, Ontario. The past-producing asset hosts 4 nickel sulfide deposits. The corporate’s pipeline additionally contains the past-producing Somanike nickel-copper undertaking close to Val-d’Or, Québec, and the River Valley platinum group metals (PGMs) undertaking close to Sudbury, Ontario.
Class 1 Nickel launched useful resource estimate updates for the Alexo South and Alexo North deposits in April and Could of this yr, respectively. The corporate stated it expects to begin work on a preliminary economic assessment for Alexo-Dundonald within the close to time period as a part of its plan to carry the asset again into manufacturing.
On October 3, Class 1 Nickel put out an updated resource estimate for the Dundonald South nickel deposit. Within the indicated class, the corporate reported a 781 % enhance in metric tons of ore and a 474 % enhance in kilos of nickel.
The Canadian nickel exploration firm’s share worth began off the yr at C$0.06, and started climbing in April to achieve a year-to-date excessive of C$0.40 on November 18.
Yr-to-date achieve: 318.18 %
Market cap: C$187.23 million
Share worth: C$0.92
Energy Nickel is growing its 80 % owned Nisk polymetallic property in Québec, which hosts nickel, copper, platinum and palladium mineralization. In keeping with the corporate, it plans to create Canada’s first carbon-neutral nickel mine. The polymetallic nature of the undertaking is a plus for the financial case for future nickel manufacturing in a low worth setting.
This ongoing work has generated constructive information move for the corporate in 2024. After beginning the yr at C$0.24, Energy Nickel started gaining in mid-April following two key bulletins. First, the corporate released drill results from the newly found Lion zone 5 kilometers northeast of the principle Nisk deposit. Shortly after, it introduced the completion of its choice to earn an 80 percent stake in Nisk from Essential Parts Lithium (TSXV:CRE,OTCQX:CRECF).
Energy Nickel’s share worth jumped greater than 15 % on Could 10 to achieve C$0.64 following information that drilling continued to expand the high-grade, near-surface Lion discovery, with notable assays together with 14.42 meters at 0.59 grams per metric ton (g/t) gold, 69.14 g/t silver, 8.17 % copper, 6.25 g/t palladium, 8.44 g/t platinum and 0.58 % nickel.
In June, Energy Nickel commenced an 8,000 meter summer season drill program at Nisk, and closed a flow-through offering for gross proceeds of over C$20 million. Among the greatest names in mining — Robert Friedland and Rob McEwen — participated.
The corporate’s good news move continued into the fourth quarter with a collection of stellar drill outcomes from its Nisk winter drill program, together with vital intersections as shared in its October 3, October 28 and November 11 information releases. Moreover, on December 5, Energy Nickel introduced it was executing a spinout of its curiosity within the Golden Ivan property in Chile into an entirely owned subsidiary Chilean Metals.
Energy Nickel continued to climb earlier than peaking at a year-to-date excessive of C$0.96 on December 12. On that very same day, the company released one other set of constructive assay outcomes from its work at Nisk.
Yr-to-date achieve: 234.15 %
Market cap: C$214.48 million
Share worth: C$1.37
Magna Mining is a base metallic exploration and improvement firm primarily based in Sudbury, Ontario. The corporate’s flagship belongings are the Shakespeare Mine and the Crean Hill undertaking. Shakespeare is a past-producing, nickel-copper-platinum group mine with main permits in place. The present deposit at Shakespeare hosts an NI 43-101 indicated open pit useful resource of 14.4 million MT. Crean Hill is a previous producing nickel, copper and PGM mine.
In March, Magna announced the signing of a definitive off-take settlement with Vale Base Metals wholly-owned subsidiary Vale Canada for the superior exploration portion of the Crean Hill undertaking. A number of months later, in June, it inked a toll milling agreement with Glencore Canada for the floor bulk pattern of the 109 Footwall Zone at Crean Hill.
The corporate entered right into a definitive share buy settlement with a subsidiary of KGHM Polska Miedz (FWB:KGHA) to acquire a portfolio of base metals belongings positioned within the Sudbury Basin, together with the manufacturing McCreedy West copper-nickel mine. In November, Magna completed an up to date preliminary financial evaluation at Crean Hill.
Magna Mining’s share worth began off the yr at C$0.57, and step by step climbing to double its worth by September 13. It reached a year-to-date excessive of C$1.67 on December 4.
Yr-to-date achieve: 108.7 %
Market cap: C$27.19 million
Share worth: C$0.24
Tartisan Nickel s a Canadian battery metals exploration and improvement firm focuses on growing the Kenbridge nickel-copper-cobalt undertaking positioned in Northwestern Ontario, Canada.
Tartisan acquired extra exploration claims for the Kenbridge undertaking in mid-Could. In November, the corporate closed C$1.5 million in flow-through financing with proceeds primarily going to fund the exploration and improvement of the undertaking.
Shares in Tartisan Nickel fluctuated considerably in 2024. The corporate kicked off the yr at C$0.19 earlier than falling to a low of C$0.10 on March 12. Nonetheless, its share worth climbed quickly in Could to achieve a year-to-date excessive of C$0.26 on Could 16. Though shares fell as little as C$0.12 in late June, its worth had doubled again as much as C$0.24 on December 13.
Yr-to-date achieve: 70.83 %
Market cap: C$38.41 million
Share worth: C$0.41
EV Nickel’s major undertaking is the 30,000 hectare Shaw Dome asset, which is located close to Timmins, Ontario. The property contains the high-grade W4 deposit, which has a useful resource of two million metric tons at 0.98 % nickel for 43.3 million kilos of Class 1 nickel throughout the measured, indicated and inferred classes.
Shaw Dome additionally holds the large-scale CarLang A zone, which has a useful resource of 1 billion metric tons at 0.24 % nickel for five.3 billion kilos of Class 1 nickel throughout the indicated and inferred classes.
EV Nickel is engaged on integrating carbon capture and storage technology for large-scale clear nickel manufacturing, and has procured funding from the Canadian authorities and Ontario’s provincial authorities. In late 2023, the corporate introduced it was shifting its carbon seize analysis and improvement to the pilot plant stage.
The corporate’s information to this point in 2024 contains the closure of a flow-through financing in March that in the end noticed EV Nickel increase C$5.12 million to fund the event of its high-grade, large-scale nickel sources.
In April, EV Nickel launched a 2024 exploration program that’s geared toward advancing the CarLang pattern and exploring different nickel targets. The most recent news out of this system got here in early September with the announcement that diamond drilling on the Langmuir #2 high-priority nickel goal had confirmed high-grade nickel, with intercepts similar to 18.5 meters grading 1.07 % nickel, 7.5 meters grading 1.67 % nickel, 2 meters grading 3.27 % nickel and 1 meter grading 5.11 % nickel. EV Nickel described the outcomes as “very encouraging.”
The Canadian nickel exploration firm’s share worth began off the yr at C$0.30 earlier than steadily climbing to achieve a year-to-date excessive of C$0.79 on Could 17.
FAQs for nickel investing
Easy methods to spend money on nickel?
There are a selection of ways to invest in nickel, however shares and exchange-traded merchandise are the commonest. Nickel-focused corporations will be discovered globally on varied exchanges, and thru using a dealer or a service similar to an app, traders should buy corporations and merchandise that match their investing outlook.
Earlier than shopping for a nickel inventory, potential traders ought to take time to analysis the businesses they’re contemplating; they need to additionally determine what number of shares will likely be bought, and what worth they’re prepared to pay. With many choices available on the market, it is vital to finish due diligence earlier than making any funding choices.
Nickel shares like these talked about above may very well be an excellent possibility for traders within the area. Skilled traders may take a look at nickel futures.
What’s nickel used for?
Nickel has quite a lot of purposes. Its major use is an alloy materials for merchandise similar to stainless-steel, and additionally it is used for plating metals to cut back corrosion. It’s utilized in cash as nicely, such because the 5 cent nickel within the US and Canada; the US nickel is made up of 25 % nickel and 75 % copper, whereas Canada’s nickel has nickel plating that makes up 2 % of its composition.
Nickel’s up-and-coming use is in electrical automobiles as a part of sure lithium-ion battery compositions, and it has gotten additional consideration due to that function.
The place is nickel mined?
The world’s top nickel-producing countries are primarily in Asia: Indonesia, the Philippines and New Caledonia make up the highest three. Rounding out the highest 5 are Russia and Canada. Indonesia’s manufacturing stands far forward of the remainder of the pack, with 2023 output of 1.8 million metric tons in comparison with the Philippines’ 400,000 metric tons and New Caledonia’s 230,000 metric tons.
Vital nickel miners embody Norilsk Nickel (OTC Pink:NILSY,MCX:GMKN), Nickel Asia, BHP Group (NYSE:BHP,ASX:BHP,LSE:BHP) and Glencore (LSE:GLEN,OTC Pink:GLCNF).
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Securities Disclosure: I, Melissa Pistilli, maintain no direct funding curiosity in any firm talked about on this article.
Editorial Disclosure: Canada Nickel Firm is a consumer of the Investing Information Community. This text isn’t paid-for content material.
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