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Nickel/Gold Bullion

  • Nickel is the essential yet often-forgotten battery metal.

  • Not all nickel is created equal.

  • Primary nickel supply comes from two different types of deposits:

    • Laterites - Low grade, bulk-tonnage deposits - 62.5% of current production.

    • Produces class-two low purity nickel suitable for production of stainless steel.

    • Sulphides - Higher grade, but rarer deposits - 37.5% of current production.

    • Produces class-one high purity nickel suitable for use in both stainless steel and batteries.

  • Only class-one (sulphide) nickel is suitable for use in batteries.  The nickel found on Fortune's Gowan property is high grade nickel sulphide and is suitable for ("EV") batteries. 

 “Battery demand will very likely be a transformational demand event, which will turbo-charge primary nickel demand in the next decade.” Source: Glencore


 “Unlike other battery metals, nickel stands to benefit twice as much from the adoption of the EV and the roll out of energy storage systems:

1) nickel will benefit from increased nickel-rich battery chemistry; and

2) it will benefit from increased EV and energy storage systems sales.” Source: Marc Grynberg, Chief Executive Officer, Umicore


 “Our cells should be called Nickel-Graphite, because primarily the cathode is nickel and the anode side is graphite with silicon oxide… [there’s] a little bit of lithium in there, but it’s like the salt on the salad,” Source: Elon Musk 

The Bullion Market 

Bullion is traded in the bullion market, which is primarily an OTC market open 24 hours a day. Trade volume in the bullion market is high since it includes the vast majority of bullion trading prices throughout a given day. Most transactions are completed electronically or by phone. There are various bullion markets globally, including in London, New York, Tokyo, and Zurich. 

The price of gold bullion is influenced by demand from companies that use gold to make jewelry and other products. The price is also impacted by perceptions of the overall economy. For example, gold becomes more popular as an investment during times of economic instability.

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