Page 14 - pd290-Feb21-mag-web

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Wyloo makes critical investments

fter locking down a third Canadian in- “Today, we see the thematic around gramme at West Raglan which includes
Avestment, Wyloo Metals indicated it Class 1 nickel continuing to play a crucial new ground geophysics, geological map-
would pursue further exposure in the bat- role in electrifying the global economy and ping and geochemical surveys has been
tery minerals sphere. decarbonising the planet. So, you will likely scheduled for the Canadian summer.
Wyloo – a company of Andrew For- see Wyloo Metals make further invest- Giacovazzi said being positioned in a
rest’s Tattarang stable, one of Australia’s ments in the battery commodity space.” proven, endowed mineral belt would max-
largest private companies – is well-spread Last month, Wyloo and TSX-V-listed imise Wyloo’s chances of a discovery at
domestically with investments in the likes Orford Mining Corp announced a $C25 West Raglan, with the company planning
of Mincor Resources Ltd, Poseidon Nickel million option and JV agreement over the “to look deeper and more effectively than
Ltd, Panoramic Resources Ltd and Impact latter’s wholly-owned West Raglan nickel others before us, as we search for the next
Minerals Ltd, such is its view on the neces- project, Nunavik, Quebec. great Canadian nickel discovery”.
sity for nickel in the future. The deal with Orford followed Wyloo’s West Raglan is considered one of the
“As a modern economy, to make things cornerstone investment in Noront Re- few nickel sulphide projects in the world
sources Ltd, which that is drill-ready in a proven nickel belt
is developing the and with nickel and cobalt markets expe-
Eagle’s Nest nickel riencing a resurgence as the EV battery
project in the Ring market continues to grow demand for such
of Fire, in Decem- metals, it is an apt time to be active in the
ber. space.
Eagle’s Nest – At the time of print, LME (cash) nickel
the largest high- prices were trading at $US18,055/t.
grade nickel dis- “We’re not focused on 2021 or the short
covery in Canada term. We are more interested in what the
since Voisey’s Bay nickel market will look like in the longer
– is expected to term,” Giacovazzi said.
run for an initial 11 “As of today, we know that globally we
years, with the po- are producing too much Class 1 nickel and
Luca Giacovazzi
tential for a further trying to sell it into a stainless-steel market
nine years of mine that prefers Class 2 nickel. That is likely to
we must source materials either by grow- life to be added. It is also projected to de- remain the case in 2021. We also know
ing them, recycling them or mining them. liver up to $C9.4 billion in GDP in the first that EVs are only about 3% of global car
Wyloo Metals was created to provide 10 years. sales and growing rapidly. Every 1% in-
investment leadership in that third pillar Meanwhile, the deal with Orford gives crease in EV penetration equates to about
and our long-term strategy focuses on Wyloo the “irrevocable right and option to 1 million cars. If the average EV has about
investing in and developing projects that acquire 80%” of the West Raglan project 40kg of nickel in it, that is 40,000t of addi-
can produce the materials we need for a by committing $C25 million over seven tional Class 1 nickel needed each year. To
cleaner, thriving future,” head of Wyloo, years. put that into context, Nova-Bollinger only
Luca Giacovazzi, told Paydirt via email. An approved $C1.7 million work pro- produced about 30,000t last year.”

Page 14 FeBRUaRY 2021 aUSTRaLIa’S PaYDIRT