SmallCapPower | April 10, 2018: Battery metals have seen a correction after their rally earlier this year, with almost none of the lithium and cobalt companies we track seeing positive YTD returns. Lithium prices are currently US$126,000/t, down 20% YTD, and although cobalt prices are currently up, US$41.50/lb and up 20% YTD, many cobalt companies have been set back by changes in the Congolese mining code. However, nickel companies remain strong, and the nickel price is up 5% YTD. That being said, the Canadian nickel stocks on our list today have seen strong YTD returns.
FPX Nickel Corp. (TSXV:FPX) – $0.17Nickel
FPX Nickel is a Canada-based nickel developer operating in British Columbia. The Company's flagship asset, the Decar Nickel District, hosts 2.3 Mt Ni, grading 1.2% Ni (Feb 2018 updated resource estimate). The project's 2013 Preliminary Economic Assessment aims for the project to produce an average of 114,000t/day over the mine's 24-year life. FPX also owns four other nickel properties.
Market Cap: $24.9 Million1 Month Total Return: 30.8%YTD Total Return: 78.9%6 Month Total Return: 88.9%Royal Nickel Corp. (TSX:RNX) – $0.21Nickel
Royal Nickel is a Canada-based mining company operating in Canada and Australia. The Company holds stakes in two producing assets, the Beta Hunt gold-nickel mine in Australia and the Reed copper-gold mine in Quebec, as well as a number of exploration assets. The Company also owns the Dumont nickel deposit, the world's largest undeveloped nickel reserve hosting 1,200Mt at 0.3% Ni.
Market Cap: $73.1 Million1 Month Total Return: -18.0%YTD Total Return: 17.1%6 Month Total Return: 13.9%Noront Resources Ltd. (TSXV:NOT) – $0.37Nickel
Noront Resources is a Canada-based developer operating in northern Ontario. The Company's primary asset, the Eagle's Nest mine, is a nickel-copper-platinum-palladium mine, hosting 11.1Mt at 1.7% Ni, 0.9% Cu, 0.9 g/t Pt, and 3.1 g/t Pd. Noront expects to begin production at 3,000 tonnes of ore per day, three years after receiving its permits. The Company also has 13 other properties in various stages of exploration.
Market Cap: $117.9 Million1 Month Total Return: 0.0%YTD Total Return: 15.9%6 Month Total Return: 19.7%Garibaldi Resources Corp. (TSXV:GGI) – $2.71Nickel
Garibaldi Resource is a Canada-based developer operating in British Columbia, advancing its nickel-copper-rich massive sulphide discovery at Nickel Mountain, 11 miles southwest of Eskay Creek. The Company also has 11 properties in the exploration and drilling stage.
Market Cap: $273.9 Million1 Month Total Return: 26.6%YTD Total Return: 10.2%6 Month Total Return: 20.4%Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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