NICKEL NEWS, page-175

IMO, the main problem with Ni supply/demand forecasts is that they do not differentiate between class 1 and class 2. They lump them all together into one set of numbers.

We know for a fact that class 1 is preferred for batteries.
We also know:
1. The highest growth rate in demand is for class 1 Ni; and
2. The tightest supply is for Ni sulphide ore (class 1 Ni), which is the preferred input into making battery grade Ni sulphate.

Hence we generally don't know the full story for Ni sulphide ore demand but it does seem that demand for Ni sulphide ore is likely to exceed demand and may already be in a negative supply position this year. We just need to look at the growth of the EV takeup, the growth of high Ni batteries, and the growth in number of new battery plants coming on stream

Time will tell. I'm betting on the EV demand for Ni sulphate driving the price of class 1 Ni and therefore providing strong support for the POS DFS.

Exciting times ahead IMO.
Good luck to all holders.