We just need to stay patient; it is a sensitive stock. There are some macro headwinds regarding planned increase supply from the China/Indonesia relationship, but this will be short/medium term and offset by demand from the battery sector. The Indonesia/China nickel relationship might also help ADD/Tanzania from a political perspective.
BHP have invested in Kabanga through Lifezone Metals and if our drill results are favourable, ADD will be in a great position. BHP Nickel operations in Western Australia are heavily reliant on third party nickel concentrate purchases to increase nickel grades and the iron blend required for the smelter. BHP used to own the mines it is now buying nickel concentrate from at much higher prices (contracts linked to LME market price).
I think there is a lot to like about ADD and hopefully our patience is rewarded. The uranium project in South Australia also looks promising.
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