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

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

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



Espedalen Nickel Project Under Option – Norway