Kun-Manie Project Mineral Resource Estimate
Nickel Forecast - The Only Way Is Up
Nickel demand and falling supply set
to drive a deep and long term deficit
Analyst Forecast: Nickel (US$/lb)*
Date
Firm
2017
2018
2019
2020
LT
■
Price of Nickel must rise to spur
supply to match new demand driven
by EV market
28-Sep-17
CIBC
$4.65
$5.00
$5.50
$6.00
$6.68
25-Sep-17
Deutsche Bank
$4.45
$4.65
$5.22
$5.96
$7.49
22-Sep-17
UBS
$4.35
$5.25
$6.25
$7.50
$7.90
21-Sep-17
JP Morgan
$4.35
$3.86
$4.54
$8.16
21-Sep-17
Credit Suisse
$4.71
$5.25
$5.50
$5.75
$6.70
20-Sep-17
Barclays
$4.54
$4.69
$4.99
$6.50
Potential for a "Sulphide" premium
19-Sep-17
RBC
$4.24
$4.50
$5.00
$6.00
$8.00
18-Sep-17 BMO
$4.27
$4.50
$5.00
$6.00
$7.00
to spot price for Nickel product
18-Sep-17
Morgan Stanley
$4.51
$4.88
$4.93
$5.93
derived from sulphide deposits
18-Sep-17
Jefferies
$4.63
$5.22
$5.44
$5.90
$5.90
18-Sep-17
Raymond James
$4.56
$4.68
$5.33
$6.33
17-Sep-17
National Bank
$4.36
$5.00
$6.00
$6.50
$7.50
which are the only tangible source of
15-Sep-17
Macquarie
$4.51
$4.82
$5.22
$5.44
$5.90
15-Sep-17
Scotia
$4.40
$5.00
$5.50
$6.00
supply to the EV battery
11-Sep-17
Societe Generale
$5.11
$5.44
$5.90
$6.35
manufacturers
08-Sep-17
Eight Capital
$4.56
$5.25
$6.35
$7.00
07-Sep-17
Canaccord
$4.65
$4.65
$5.00
$5.50
$7.00
06-Sep-17
Haywood
$4.50
$6.00
$6.50
$7.50
$7.50
All analysts forecast Nickel price will
rise
01-Sep-17
HSBC
$4.57
$4.99
$5.07
$7.48
09-Aug-17
GMP Securities
$5.71
$8.00
$8.00
$8.00
$8.00
09-Aug-17
TD
$4.40
$4.75
$5.00
$6.50
$7.50
11-Jul-17
Investec
$4.35
$4.48
$5.25
$6.00
$6.99
Average
$4.56
$5.04
$5.52
$6.32
$7.19
As reported by CIBC September 29 2017
Amur
Minerals
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