Nordic Nickel (ASX:NNL) - Advancing Projects in Finland to Fill Nickel Supply as EV Boom Accelerates

Company Interviews

Interview with Todd Ross, MD & CEO of Nordic Nickel Ltd.

Our previous interview: https://www.cruxinvestor.com/posts/nordic-nickel-asxnnl-pursuing-high-grade-nickel-in-finland-4675

Recording date: 24 May 2024

Nordic Nickel (ASX:NNL) is an emerging nickel explorer focused on developing projects in the Central Lapland Greenstone Belt (CLGB) of Finland. With the EU aggressively pushing to build a domestic battery metals supply chain to feed its booming electric vehicle (EV) industry, Nordic appears well positioned to help fill the looming nickel gap.

The company's flagship asset is the Pulju project. Pulju already hosts a resource of over 400 million tonnes grading 0.21% nickel, 0.01% cobalt, for over 800,000 tonnes of contained nickel and 47,000 tonnes of contained cobalt. Notably, mineralization starts at surface and remains open, offering potential for further growth.

Nordic is actively advancing Pulju along the development curve. Key near-term catalysts include metallurgical test results to optimize recoveries and concentrate grades, along with a scoping study to define project economics. In parallel, Nordic is conducting regional exploration to make additional discoveries in this fertile nickel belt.

According to CEO Todd Ross, the company is also pursuing strategic initiatives to build out its portfolio and create shareholder value. These include prospect generation to acquire additional battery metal assets in Finland, potential spin-outs or joint ventures for non-core projects, and selective earn-in deals.

The investment case for Nordic is underpinned by the powerful macro tailwinds driving nickel demand. Europe in particular is facing a structural shortage of the metal as it looks to ramp up EV production. The EU is targeting 30 million EVs by 2030, which will require nickel supply to increase more than tenfold from current levels. However, Europe has limited domestic nickel production today, leaving it heavily reliant on imports. To address this, Brussels is enacting policies like the Critical Raw Materials Act to spur local mining of battery metals. The EU is backing this up with billions of euros in investment support.

This combination of rising nickel demand and a concerted policy push has sparked a race to launch new nickel operations in Europe. As one of the few nickel explorers with an established resource in a top tier jurisdiction, Nordic appears well placed to capitalize.

Key potential catalysts for Nordic over the coming 12 months include: Metallurgical test work results (Q2 2024), scoping study on Pulju project (H2 2024), exploration results from regional drilling and sampling programs, further delineation of nickel targets across project portfolio, and potential strategic partnerships or offtake agreements.

While still an early-stage explorer, Nordic offers investors leveraged exposure to the themes of nickel demand growth, security of supply, and the European battery metals rush. With a large resource base, prospective land package, and active work programs, the company appears to be laying the groundwork to create value on multiple fronts. As such, Nordic may be worth a closer look for risk-tolerant investors seeking to gain exposure to the accelerating EV story.

View Nordic Nickel's company profile: https://www.cruxinvestor.com/companies/nordic-nickel

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