Nickel Boner Update, page-2032

NP rising again
a spike straight up after ASX close yet again
8.36 now
aud$24,100
24.1k x 400kt = $9,640M current JORC resource sale value



NI demand booming, NI supply slashed,
Russia imposing tarriffs on Ni exports 15%, soon others also.
Oz supply still not escalating as MCR PAN POS still not in production till early 2022
BHP production slowed in Q3 but expected to boom June Q till December.

https://company-announcements.copyright link/asx/bhp/2e3f0617-a227-11eb-bb0c-befacd2c5806.pdf

"Nickel – Nickel West production [pa] increased by 19 per cent to 67 kt as a result of major quadrennial maintenance
shutdowns in the prior period and strong performance from the new mines. Production for the March 2021 quarter
was impacted by the planned maintenance undertaken at the Kwinana refinery during the quarter. Guidance for the
2021 financial year remains unchanged at between 85 and 95 kt"

Trafigura now has PAN IGO giving it offtake ~28kTpa
BHP has MCR IGO WSA ~40kTpa
BHP mines are around ~40KTpa itself, so the MCR ore will boost its tolling revenues.

BHP is planning on doubling Ni production by June 2022 looks like & ramping up its Kwinana plants and refineries.
Its NWest dividion was $500M now $7B in value!
(WSA MCap 800M @13ktpa, BHP 85ktpa plus mines and refineries.
Wheres all the Nickel Ore going to come from BHP? ESR FMG? haha.

BHP becomes the No 1 EV commodity supplier, Tesla has to deal with BHP or POS in Oz?!
There is no one else whose offtake or metal is taken that has milling capacity.
If they approach Trafigura, Glencore or BHP they will have to pay double on top of the NP for refined metal ingots & sign long term supply deals with upfront deposits of $100M.

POS has 3.7MTpa milling capacity in "remarkably good condition", something the market hasnt even begun to understand as to its true revenue stream value and tolling control regionally. POS infrastructure value will be unlocked sooner or later.

NP is booming,
should hit 9-10 next few months on the way to 11-18 imho like IOP CuP have already reached comparatively