Nickel prices are up 26% YoY to US$9/lb, amid rising demand for Electric Vehicles, a temporary supply crunch from the energy crisis, and lower inventory levels (down 41% YoY). We believe inflation, supply chain disruptions, and slow rate hikes will provide near-term support to base metal prices
A preliminary economic assessment (PEA) study is expected to be released before the year-end, which we believe will be the next major catalyst for TN’s shares.
We believe the current drill program has confirmed mineralization at depth. We believe the project has room for resource expansion, especially higher-grade mineralization at depth.
Assay results from the ongoing 10,000 m drill program (9,000 m completed) returned high nickel grades, and medium copper grades from two zones of the Kenbridge deposit. One hole intersected 25.6 m of 1.03% Ni and 0.41% Cu in one zone, and 6.3 m of 0.95% Ni and 0.38% Cu in another zone.
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