Pertinent market/industry news/articles, page-432

Thanks AlexanderJ. There is important information in the article which needs to be understood by worried ARL holders. I've copied two sentences below. The article reinforces the point that Class 1 nickel, which ARL will produce for the EV industry, is not the same as pig iron nickel (NPI) also called Class 2 nickel. There is a large difference in price (which will only become larger as the EV revolution develops), and there is a huge cost in tooling up to produce Class 1 nickel sulfate. Posters on this site have said it before, but it is worth repeating. Also, I wonder whether the prices used by ARL in its PFS were based on the LME price or the premium price for Class 1 refined product? The same for cobalt?

"Class 1 nickel powder for sulphate production enjoys a premium of as much as a third over LME reference prices, but for miners to switch to battery grade material requires huge investments to upgrade refining and processing facilities.
China's nickel pig iron production fed from Indonesian and Philippine mines dominate the industry currently, but producing battery grade purities from Class 2 sources like NPI is prohibitively expensive."