Growth in electric vehicles is robust and driving growth in battery demand

The majority of market analysts/commentators globally forecast demand for high quality nickel and cobalt battery raw materials, and in particular Class 1 nickel product prices, to continue to increase from their current levels over the intervening period.

Class 1 nickel contains a nickel content of at least 99.8% which can take on different physical forms including cathodes, powders, briquettes and pellets. This high purity nickel class has a high level of dissolvability compared with low purity products like nickel pig iron (class 2 nickel).

The projected Class 1 nickel supply/demand deficit and the rapidly growing demand for nickel and cobalt sulphate products from the electric vehicle lithium-ion battery market creates an attractive environment for GME to pursue the development of, and value realisation from, the NiWest Project. GME's nickel and cobalt products have been designed and targeted to meet the specifications required to produce lithium-ion battery cathode precursor.