J P M O R G A N Asia Pacific Equity Research 17 October 2025 Nickel Dashboard Strong gains across nickel intermediary prices in Sept LME nickel edged higher in September, averaging USD15,310/t (+1% m/m), supported by gains across nickel intermediates. Nickel sulfate rose ~5% on tighter MHP feedstock and firmer precursor demand, lifting prices to a premium over LME of ~2% - levels last seen in Oct 2022. Nickel pig iron (NPI) also averaged USD11,940/t, up 4% m/m, likely driven by Indonesia's continued clampdo ...

GRAND FALLS-WINDSOR, Newfoundland and Labrador, Oct. 21, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSX-V: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to report that recent Davis Tube Recovery (DTR) surface sampling and geological mapping has successfully expanded the RPM Zone target area to a continuous 4-kilometer strike length within the 30-kilometer nickel trend at its Pipestone XL Nickel Alloy Project in central Newfoundland. The new results extend the known ...

Core Insights - China's control over rare earths has led to increased interest in the nickel sector, particularly in Australia, as nickel prices have plummeted by 50% from $30,000 per ton in 2022 to $15,000 per ton [1][8] Group 1: Nickel Market Dynamics - The primary cause of the nickel price collapse is over-production in Indonesia, where mines and smelters are largely controlled by Chinese business interests, driving rival producers out of the market [3] - Nickel West, a division of BHP, is significantly affected and is seeking buyers who can compete with Indonesia's low-cost production [4] - Interest in nickel has surged due to its critical role in rechargeable batteries for electric vehicles, expanding its market beyond traditional stainless steel applications [7][8] Group 2: Investment Activities - Japanese companies Sumitomo Metal Mining and Mitsubishi Corporation have invested in the Goongarrie nickel and cobalt project in Australia, taking a 50% stake [5] - The Goongarrie project is expected to produce 30,000 tons of nickel and 2,000 tons of cobalt annually for 40 years, with a definitive feasibility study (DFS) underway, funded by a $64 million investment from the Japanese firms [6] - U.S.-based investment firms, including Denham Capital, Appian Capital, and Resource Capital Funds, have shown interest in acquiring Nickel West, which was trading at a loss when it was mothballed last year [9]

 Montréal - TheNewswire - October 14, 2025 – St-Georges Eco-Mining Corp. (CSE: SX) (OTCQB: SXOOF) (FSE: 85G1) and its wholly owned subsidiary, St-Georges Metallurgy Corp., provides a corporate update on its lithium production pilot plant and other metallurgical initiatives.Over the past months, the Company and its partners carefully evaluated potential spodumene suppliers from across Canada. Several suitors expressed interest in providing concentrate. The consortium of partners, Coalia, LiOH Corp., and St- ...

Toronto, Ontario – TheNewswire - October 7, 2025 – Homeland Nickel Inc. (“Homeland Nickel” or the “Company”) (TSX-V: SHL, OTC: SRCGF) is pleased to announce it has entered into a preliminary agreement with Brazilian Nickel Limited (“Brazilian Nickel”) to jointly advance the financing and development of nickel laterite properties owned by Homeland Nickel in the State of Oregon, USA.The two companies signed a memorandum of understanding (the “MOU”) under which they will jointly seek development funding from ...

Core Insights - First Atlantic Nickel Corp. has renamed its flagship Atlantic Nickel Project to Pipestone XL, highlighting its 100% ownership of the 30-kilometer Pipestone Ophiolite Ultramafic Complex and its district-scale potential for nickel alloy mineralization [1][6] - The company aims to double the strike length and expand the width of the awaruite mineralization at the RPM Zone through the newly designated Phase 2X drilling program [1][11] - The project emphasizes clean energy potential, including ongoing research into geologic hydrogen in collaboration with the Colorado School of Mines [1][3] Company Overview - First Atlantic Nickel Corp. is a Canadian mineral exploration company focused on developing the Pipestone XL project, which is strategically located near existing infrastructure in Newfoundland [36] - The project features awaruite, a naturally occurring nickel-iron-cobalt alloy, which allows for smelter-free magnetic separation, enhancing North America's critical minerals supply chain [36][37] - The company is positioned to meet the growing demand for responsibly sourced nickel, particularly in the context of U.S. critical mineral requirements for electric vehicles [37] Geological Insights - The Pipestone XL project comprises a continuous 30 km belt of serpentinized ultramafic rocks enriched in nickel and chromium, characterized by a strong magnetic anomaly [3][8] - The Phase 1 drilling program at the RPM Zone delineated a 400m x 500m area of disseminated awaruite mineralization, with the highest grades drilled to date [3][10] - Historical drilling in the Atlantic Lake zone revealed 0.22% nickel over 87.15 meters, indicating untested potential at depth [9] Exploration and Drilling Programs - The Phase 2X program aims to systematically expand the known mineralized area using step-out holes, targeting large volumes of disseminated awaruite suitable for bulk mining [12][13] - The company has identified that nickel grades vary by rock type, with broader peridotite units containing higher grades of 0.10-0.17% DTR nickel [14] - The RPM Phase 2X drilling program will utilize an optimal primary orientation from east to west to better intersect mineralized zones [12] Mining Jurisdiction and Infrastructure - Newfoundland and Labrador ranks among the world's top 10 mining jurisdictions, offering streamlined permitting and a skilled workforce [20][24] - The province's efficient regulatory environment has enabled First Atlantic to advance from acquisition to drilling in under 12 months [20] - Recent successful projects, such as Equinox Gold's Valentine Lake Mine, demonstrate Newfoundland's capability to support major mining operations [23]

Nickel Industries Limited (OTCPK:NICMF) June Quarter Activities Webcast July 29, 2025 9:00 PM ET Company Participants Christopher Leslie Shepherd - CFO & Executive Director Justin Charles Werner - MD & Director Conference Call Participants David Coates - Bell Potter Securities Limited, Research Division Richard William Knights - Barrenjoey Markets Pty Limited, Research Division Operator Thank you for standing by, and welcome to the Nickel Industries Limited June quarter activities webcast. [Operator Instruc ...

Nickel Industries Limited (OTCPK:NICMF) December 2024 Quarterly Activities Webcast January 29, 2025 7:00 PM ET Company Participants Justin Werner - Managing Director Christopher Shepherd - CFO Conference Call Participants Dim Ariyasinghe - UBS Richard Knights - Barrenjoey Cameron Taylor - Bank of America Adam Baker - Macquarie Daniel Roden - Jefferies David Coates - Bell Potter Securities Operator Thank you for standing by, and welcome to the Nickel Industries Limited December Quarter Activities Webcast. Al ...

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Core Insights - First Atlantic Nickel Corp. has reported a significant expansion of visible awaruite nickel-alloy mineralization at the RPM Zone, increasing the mineralized section's width to 750 meters, a 50% increase from the previous 500 meters established in Phase 1 [1][6][8] - The Phase 2 drilling program has successfully tested 800 meters of north-south strike length and aims to define over 1 kilometer of continuous awaruite mineralization [1][6][22] - Awaruite, a naturally occurring nickel-iron-cobalt alloy, offers advantages over traditional nickel ores, including a higher average nickel grade of approximately 76% and the elimination of conventional smelting processes [2][31] Company Developments - The RPM Zone has emerged as a significant discovery within First Atlantic's 30-kilometer Atlantic Nickel Project, with drilling confirming a mineralized footprint of approximately 750 meters in width and 400 meters in length [20][21] - The company has completed holes AN-25-08 and AN-25-09, further extending the tested strike length and demonstrating the scale potential of the RPM Zone [1][22] - The geological team's systematic approach has led to the recognition of awaruite mineralization that previous operators overlooked, contributing to the project's rapid advancement [5][31] Metallurgical Insights - The drilling at the RPM Zone has returned magnetically recoverable nickel averaging 1.38% in magnetic concentrate, with a mass pull of 9.08%, indicating the mineralization's amenability to simple magnetic separation processing [6][20] - Awaruite's properties allow for smelter-free processing, aligning with the company's vision of establishing a clean, onshore North American nickel supply chain [31][32] Future Outlook - The company anticipates providing additional updates on the Phase 2 drilling and exploration progress in the coming weeks, indicating ongoing developments in the RPM Zone [1][23]