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Nickel has had an interesting year so far, with prices performing in a choppy fashion but remaining above the US$16,000 per tonne mark for most of Q1.
Despite the market volatility, some nickel companies have done exceptionally well, with their share prices seeing major increases over the course of the year so far.
Below, the Investing News Network profiles the top three nickel stocks with year-to-date gains on the TSX and TSXV. All year-to-date and share price information was obtained on April 5, 2021, from
TradingView
, and all companies listed had market caps above C$10 million at that time.
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1.
Canada Nickel Company (TSXV:CNC)
Current share price: C$3.39; year-to-date gain: 74.74 percent
Canada Nickel is advancing its 100-percent owned Crawford nickel-
cobalt
sulfide discovery with large scale potential located in the Timmins mining camp adjacent to major infrastructure.
It’s been a busy year so far for Canada Nickel, which kicked off 2021
signing
a memorandum of understanding (MoU) with Glencore Canada to examine the potential use of Glencore’s Kidd concentrator and metallurgical site in Timmins, Ontario for the treatment and processing of material mined from Canada Nickel’s Crawford project. The company also
released
drilling
results
throughout the quarter.
On April 7, Canada Nickel inked
another
MoU this time with Taykwa Tagamou Nation, regarding the financing of the company’s expected mine fleet for its project. The next day, Canada Nickel said it has
initiated
its environmental and social impact assessment for Crawford.
2. North American Nickel (TSX:
NAN
)
Current share price: C$0.26; year-to-date gain: 70.97 percent
North American Nickel is a mineral exploration company with 100 percent owned properties in Maniitsoq, Greenland and Ontario, Canada. In 2019 the company became a founding shareholder in Premium Nickel Resources, a private Canadian company, to provide direct exposure to nickel-copper-cobalt opportunities in the southern African region.
During Q1, North American Nickel
announced
that Premium Nickel Resources has been selected as the preferred bidder for the Botswana nickel-copper-cobalt assets, currently in liquidation, and formerly operated by BCL Limited. PNR submitted an indicative offer to the BCL Liquidator in June 2020 to acquire the former producing Selebi-Phikwe, Tati Phoenix and Selkirk Mines as well as regional exploration joint ventures on highly prospective nickel-copper-cobalt projects located in Botswana.
In March, the company
announced
that Premium Nickel Resources completed the exclusivity memorandum of understanding with the liquidator which will govern a six-month exclusivity period to complete additional due diligence and related purchase agreements on the Botswana nickel-copper-cobalt assets formerly operated by BCL Limited.
3.
Noble Mineral Exploration (TSX:NOB)
Current share price: C$0.14; year-to-date gain: 64.71 percent
Noble Mineral Exploration has an interest in Canada Nickel Company, Spruce Ridge Resources and MacDonald Mines, and in the Holdsworth gold exploration property in the area of Wawa, Ontario. In addition, the company holds approximately 72,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario.
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In January, the company
entered
into a letter of intent with International Explorers and Prospectors to acquire an additional 39 mining claims in MacDiarmid and Loveland Townships that are contiguous to its existing claims that have been optioned to Canada Nickel Company.
In February, Noble and Canada Nickel
entered
into a binding letter of intent to consolidate ownership of a recently identified high priority nickel target in MacDiarmid township. Later in the quarter, the company
received
conditional approval from the TSXV and said it continues to work with Canada Nickel to close the transaction.
4. Talon Metals (TSX:
TLO
)
Current share price: C$0.73; year-to-date gain: 43.14 percent
Talon is focused on producing nickel responsibly for the electric vehicle industry. The high-grade Tamarack nickel-
copper
-cobalt project is located in Minnesota, US, which comprises the Tamarack North project and the Tamarack South project.
Right at the start of 2021, Talon Metals
released
results from its drilling program at Tamarack. In February, the company published an
updated
preliminary economic assessment, showing a 96 percent increase in the after-tax NPV from US$291 million to US$569 million, with the report excluding drilling results announced since September 2020.
For 2020, Talon Metals
reported
a net loss for the year of $2.7 million or $0.01 per share (basic and diluted), which was primarily the result of administration expenses. Since the start of Q2, the company has been
releasing
more drilling results at Tamarack.
5. Sherritt International (TSX:
S
)
Current price: C$0.52; year-to-date gain: 26.83 percent
Sherritt is focused in mining and refining
nickel
and cobalt from lateritic ores with projects, operations and investments in Canada and Cuba. Nickel and cobalt are refined in Fort Saskatchewan, Alberta, Canada from mixed sulphide intermediate prepared at the mine and processing plant in Moa, Cuba. The 50/50 Moa joint venture has the capacity to produce up to 35,000 tonnes of nickel and 3,800 tonnes of cobalt (100 percent basis) per year.
The company is also the largest independent energy producer in Cuba, with extensive oil and power operations across the island.
In 2020, finished nickel
production
at Moa on a 100 percent basis was 31,506 tonnes, largely in line with guidance of 32,000 to 33,000 tonnes for the year. Production in 2021 is expected to be 32,000 to 34,000 tonnes on a 100 percent basis. Sherritt
ended 2020
with cash and cash equivalents of $167.4 million, $75.0 million held by Energas in Cuba, up from $166.1 million last year, $79.8 million held by Energas in Cuba.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Nickel Company and Noble Mineral Exploration are clients of the Investing News Network. This article is not paid-for content.
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