Canada Nickel (CNC.V) Update 3: "The Hobbit"?
The stock price round-tripped since the start of the year, despite a lot of progress and this week's excellent news.
Apologies for the length of this post.
There is positive progress again on a variety of topics: the drilling, the community consultation, the consolidation of properties, the increased media coverage of “Blood Nickel”. And yes, there were excellent news last week regarding potential debt financing from Export Development Canada ("EDC") that I posted in substack notes. However, since the start of the year Canada Nickel’s shares (Yahoo Finance) round-tripped, made a 1-bagger, remind me of J.R.R Tolkien’s “The Hobbit” - “There and Back Again”:
Dec 29 2023: CAD 1.14
YTD High: CAD 2.07
Sept 06 2024: CAD 1.03 (the day of the excellent news)
My articles so far:
So, another quarter passed. There were several positive news, yet the share price action implies that the sentiment improved in the beginning of 2024 and then retraced over summer. The value assigned by Mr. Market to Canada Nickel’s prospects is lower than at the start of the year. This article will explain why the progress made by the company actually comforts me despite the lackluster share price action.
For the free readers, I refer to a good Crux Investor article and interview from July that can maybe stir your interest to investigate deeper (and/or subscribe :) ).
Outline
TL;DR
Thesis
Equity Summary
Company and Project Updates
Information on Battery Chemistries
Information on Steel Demand
Geopolitics, Supply Chains, Tariffs
Aspiration to Become a Major?
Conclusion
TL;DR
Consolidation of properties and establishment of an ExploreCo on the co-owned properties provides for financial flexibility