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Eskay Mining Corp V.ESK

Alternate Symbol(s):  ESKYF

Eskay Mining Corp. is a natural resource company engaged in the acquisition and exploration of mineral properties in British Columbia, Canada. The Company has operations in the Province of British Columbia, Canada. It is focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the Golden Triangle, 70 kilometers northwest of Stewart, British Columbia. It holds mineral tenures in this area, comprised of 177 claims (130,000 acres). The ESKAY-Corey Property comprises several gold-silver (Au-Ag) volcanogenic massive sulfide (VMS), and gabbro-hosted magmatic nickel-copper-platinum group elements (Ni-Cu-PGE) targets located in the Golden Triangle. Its main VMS target areas on the property include the SIB-Lulu, TV-Jeff, C10, GFJ, and Spearhead zones. The Jeff showing lies four km south-southeast of the Lulu zone. The TV showing is 1.5 kilometers south of Jeff.


TSXV:ESK - Post by User

Bullboard Posts
Post by flyer4on Jun 03, 2018 11:42am
70 Views
Post# 28117099

Nickel Price is Soaring

Nickel Price is Soaring

Nickel price is soaring

The nickel price is on a tear supported by environmental production cuts across top producer China, plunging inventories and strong steel prices.

The most-traded nickel contract on the Shanghai Futures Exchange is set for a weekly gain of 5.6%, while open-interest – a measure of market participation – sits near record levels. On the London Metal Exchange, the price jumped to $15,340 a tonne on Friday, its highest close since January 2015.

The immediate driver for the surge in the price – up 75% over the past 12 months – is a sharp fall in stocks of the metal, mainly used to make stainless steel. Global stainless steel output grew 6% last year.

Exchange stocks of nickel are typically higher grade and suitable for battery production

Nickel stocks in ShFE warehouses have dropped 39% over the past four months while inventories controlled by the LME have declined for 18 consecutive days. Total exchange stocks have dropped to below 300,000 tonnes, from more than 450,000 tonnes a year ago.

Total primary production of nickel is in the region of 2m tonnes annually and stagnated through the period of low prices. Ore supply is likely to increase sharply this year after Indonesia, top supplier to China's nickel pig iron producers, lifted its export ban.

Bullishness about booming demand from the electric vehicle battery market may also be a factor behind the rapid drawdown of stocks.

Nickel, manganese and cobalt are the crucial elements in batteries favoured by most of the world’s automakers. Exchange stocks of nickel are typically higher grade and suitable for battery production, whereas nickel used in steelmaking is not.

It's early days though. Today only 5% of nickel production goes into batteries and 1% in EV power plants.

 

Nickel price soars as battery makers stock up on high grade metal
Bullboard Posts