Euroz Hartleys Nickel Snapshot Conference

Euroz Hartleys hosted a virtual Nickel conference yesterday. We had 14 companies present throughout the day.

The nickel macro is well understood, however we have pulled together a number of graphics to help illustrate the market dynamic. We note the Nickel cash price remains well off its all time highs, some 64% lower than 2007 prices – certainly has capacity to rally well beyond spot prices ~US$19,500/t. Declining stockpiles provide further impetus for ongoing strength in the underlying commodity price. We note since April we have seen stockpiles decline substantially, whilst in parallel, we have seen nickel price trade up +20%, temporarily breaching the US$20,000/t mark. The ESG wave is well and truly upon us…undoubtedly, nickel remains a critical commodity in defining a cleaner future.  

Euroz Hartleys Nickel Snapshot Conference 1

We remain optimistic by the buoyant nature of the nickel landscape. M&A rumblings have commenced with recent negotiations between WSA and IGO publicised, with Twiggy backed Wyloo agitating as a substantial holder. Furthermore, Wyloo’s bidding war with BHP for Noront in Canada goes some way to illustrate where the majors think the nickel space is moving.

Below are some stock specific comments from yesterday’s presentations. Analysts always happy to chat through their respective names and broader thoughts.

Azure Minerals (AZS) – Tony Rovira

Blackstone Minerals (BSX) – Scott Williamson

Neometals – Chris Reed

Euroz Hartleys Nickel Snapshot Conference 3

Nickel Mines – Cam Peacock

Western Areas – Dan Lougher & Joe Belladonna

Centaurus Metals – Darren Gordon & Roger Fitzhardinge

IGO – Peter Bradford, Richard Glass & Andrew Eddowes

Mincor Resources – David Southam

Widgie Nickel – Steve Norregaard

Euroz Hartleys Nickel Snapshot Conference 5

Duketon Mining – Stuart Fogarty

Legend Mining – Mark Wilson & Oliver Kiddie

Lunnon Metals – Ed Ainscough

Panoramic Resources – Victor Rajasooriar

Poseidon Nickel – Peter Harold

Some further charts with stock specific metrics below:

Euroz Hartleys Nickel Snapshot Conference 7
Euroz Hartleys Nickel Snapshot Conference 9
Euroz Hartleys Nickel Snapshot Conference 11


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