SREMF - Nickel Miners News For The Month Of April 2022

• Nickel spot prices were slightly lower last month and LME inventory was about the same. INSG forecasts a nickel surplus of 67,000 tonnes in 2022.
• Nickel market news - Biden invokes Defense Production Act to boost EV battery production. Canada to spend C$3.8 billion to support the EV battery supply chain.
• Nickel company news - Vale nickel off-take deal with Northvolt, also a rumored deal with Tesla, maximum of 500m shares buyback. Norilsk Nickel: Putin to remove overseas listed Russian stocks.
• Mincor Resources: First nickel development ore was extracted from Cassini and transported to the Kambalda Nickel Concentrator. Poseidon Nickel increases resource size at Silver Swan.

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