Nickel - Increased use in EV Batteries

Nickel-Manganese-Cobalt (NMC) & Nickel-Cobalt-Aluminium (NCA) batteries dominate the electric vehicle market

The original NMC battery started with a 1-1-1 ratio between the metals, the nickel portion has been steadily rising and is expected to rise to 8-1-110 (nickel-manganese-cobalt)

Nickel will make up 80% of the mass of the batteries used in EVs

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Nickel - Rising Demand

70% of Nickel is used as an alloy input in steel production

But it’s usage in electric vehicle production will change dramatically with the rising demand for electric vehicles

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Nickel Projects Under Option

Projects optioned from EMX Royalties. 100% interest in projects can be purchased for:

  • On exercise 20 million shares in Kendrick + after 1 year shares to same value
  • Advanced cash royalty payment of US$75,000
  • Further work commitment of US$500,000
  • Up to US$1M of deferred consideration in the event of a feasibility study

 

Little work on projects since 2011

 

ASX Listed Drake Resources had projects 2012-2015, defining resources at Stormyra and Dalen Prospects on the Espedalen Project

 

EMX acquired the projects in 2018 and concluded an option agreement with Pursuit in February 2020

 

1848 – 1918 Espedalen Project was mined with >100,000t of 1.5% Ni, 0.4% Co extracted

 

Norway has a long term involvement with the nickel industry continuing to this day

KEN_NorwayProjectsOct2021