Another week. Another closure. Another hit to the forecast 2024...

Another week. Another closure. Another hit to the forecast 2024 nickel surplus of 36,000 tonnes.

https://www.igo.com.au/site/operations/forrestania

‘One of the highest grade mines in the world.’
That’s great but note the c1 or cash cost- basically double ours. Pretty much all that matters when all else is equal ( operating jurisdiction etc ).

2024 production estimate was 7,500-9,000 tonnes so let’s say 8,000 tonnes.

Savannah ( Panoramic resources ), was 7,000 tonnes last year so it’s reasonable to expect that a similar amount would have been produced this year.

Then we have Kambalda
Around 15,000 tonnes off the table this year? Readers can do their own study there but just Forrestania and Savannah means 36,000 - ( 8,000 + 7,000 ) = 21,000 tonnes.

The projected surplus might not even make it to the end of this year! What happens when the market is tight or in deficit and/or ARL has good news/progress? ⬆️ ⬆️ ⬆️ quite literally as it has tripled in a very short time more than once before… even without a partnership.

It’s worthwhile figuring out just how much all the closures are taking out of the market but we can all enjoy doing that at our leisure over the weekend.