Last night, Wyloo Metals — a private company owned by Forrest and his wife — announced it had accumulated a 92.71% interest in Mincor. As a result, Wyloo will move forward to compulsory acquisition of the remaining shares in the nickel mining company.

Twiggy eyes a bright future for the critical mineral, pouring $760 million of the Forrest empire into Mincor. Further fortunes will undoubtedly be tipped in over the coming years, with the mining magnate declaring his willingness to invest "whatever it takes" to put the operations on the global nickel stage.

Could EVs deliver a green nickel push?

Lithium has become synonymous with electric vehicles (EVs). You could say this is a no-brainer considering the dominant battery chemistry is lithium-ion. But, as Tesla boss Elon Musk has said before, "Lithium is actually 2% of the cell mass."

You might be surprised that the two most common batteries depend heavily on nickel. According to Greencars, there are roughly 4.5 pounds of nickel for every pound of lithium carbonate in a lithium-ion EV battery cell.

Assuming EV sales follow forecasts over the next decade, demand for nickel could follow, bolstering ASX nickel shares. Estimates from McKinsey & Company suggest global nickel demand will increase to between 3.5 to 4.0 million tonnes by 2030, up from 2.2 million tonnes in 2020.

Furthermore, high-quality battery-grade nickel is forecast to be undersupplied during the second half of this decade. Based on McKinsey's modelling, the shortfall could be as early as 2024 under a high-demand scenario, as shown below.

Before the dust has settled on Mincor, Wyloo is already open to making its nickel deal. In response to the potential of consolidating the Kambalda nickel mining district, Wyloo CEO Luca Giacovazzi said:

Do we have appetite to do more deals? I'm always going to answer the same way: Yes.

No more Mincor. Which ASX nickel shares are left?

The local bourse will soon be one nickel player down for those looking to capitalise on the possibility of enjoying its 'lithium-like' moment. As Wyloo gobbles up the last of Mincor's shares, this company is as good as gone from the ASX.

Nonetheless, a long list of ASX nickel shares is still on offer. In the big end of town, for example, there are established companies, including:

• BHP Group Ltd (ASX: BHP)
• Rio Tinto Ltd (ASX: RIO)
• South32 Ltd (ASX: S32)
• IGO Ltd (ASX: IGO)

Meanwhile, toward the more speculative side of the market, there are companies such as Centauras Metals Ltd (ASX: CTM), Lunnon Metals Ltd (ASX: LM8), and Poseidon Nickel Ltd (ASX: POS).

However, it is worth noting that alternative battery chemistries are constantly being explored. Last month, lithium iron phosphate was said to be closing the performance gap on the incumbent options. If an alternative to nickel blends is discovered, it could weigh on ASX nickel shares.

The post Fortescue's Forrest is betting big on nickel. Is it time to buy ASX nickel shares? appeared first on The Motley Fool Australia.

It's declared its intent to delist the takeover target if its voting power comes in at less than the 90% needed to kick off a compulsory acquisition.

Wyloo put forward a $1.40 per share bid in March, valuing the ASX 300 miner at $760 million. The Mincor board continues to recommend shareholders vote in favour of the acquisition.

Interestingly, Mincor stock is currently trading higher than the private entity's bid. Its share price is $1.4025 right now, marking a 0.18% gain on its previous close.

Let's take a closer look at the latest on the takeover currently underway by the Fortescue boss' private mining company.

Fortescue boss' Wyloo hopes to delist ASX 300 share

Wyloo appears to have changed tack in its takeover battle for ASX 300 nickel share Mincor. The suitor has so far acquired a 61.6% interest in the company.

It announced it's changed its mind on the takeover target's continued listing on the Aussie bourse today.

If Wyloo's interest in Mincor doesn't reach 90% by the end of the offer period – currently set to close on 22 May – it will seek to remove the ASX 300 stock from the market. That is, if the suitor believes it can satisfy all requirements to do so.

If it were to delist, anyone left holding stock in the company would no longer be able to sell their stake on the market. That has serious liquidity implications.

Wyloo declared its $1.40 per share offer for Mincor 'best and final' in the absence of a competing proposal after the ASX 300 miner withdrew its guidance.

Mincor scrapped its earnings forecast and announced it's been delivering off-specification product to BHP Group Ltd (ASX: BHP) amid the ramp-up of its Northern and Southern operations in late March.

Mincor share price snapshot

The Mincor share price has had a rough trot as of late.

The stock has plunged 5% so far this year. It's also currently 35% lower than it was this time last year.

For comparison, the ASX 300 has gained 5% year to date and 2% over the last 12 months.

The post Fortescue's Twiggy could wipe this ASX 300 share from the bourse. Here are the details appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Jervois Global Ltd (ASX: JRV)

The Jervois Global share price is down a further 12% to 5.9 cents. Investors have been selling this cobalt developer's shares this week after it suspended the construction of its cobalt operation in the United States. Management made the move in response to low cobalt prices and inflationary pressures. Jervois Global has already spent US$130 million on its construction. It will aim to resume work once cobalt prices recover.

Mincor Resources NL (ASX: MCR)

The Mincor share price is down 5% to $1.42. This has been driven by the release of an update on the nickel miner's guidance. Mincor has been having issues creating a blended product that meets the specifications of BHP Group Ltd (ASX: BHP). And with BHP unwilling to amend its off-take terms, management has been forced to withdraw its guidance. Mincor also advised that it will stockpile any ore that BHP indicates will not be accepted due to product specification requirements.

Newcrest Mining Ltd (ASX: NCM)

The Newcrest share price is down over 1% to $26.30. Investors have been selling Newcrest and other gold miners today after the gold price fell overnight. Traders were selling the safe haven asset after risk sentiment improved.

Santos Ltd (ASX: STO)

The Santos share price is down 1% to $6.92. Softer oil prices appear to have put pressure on Santos and other energy shares today. This was driven by a stronger US dollar and concerns over higher than expected supply from Russia. According to CNBC, Russian production fell by 300,000 barrels a day during the first three weeks of March. Whereas the market was expecting it to fall by 500,000 barrels.

The post Why Jervois Global, Mincor, Newcrest, and Santos shares are dropping today appeared first on The Motley Fool Australia.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Block Inc (ASX: SQ2)

The Block share price has crashed 19% to $88.60. Investors have been selling this payments company's shares after it was the subject of a short seller attack. Hindenburg Research alleges that Block's flagship Cash App product facilitates crime and lacks strong compliance controls. It also claims that Block is inflating user metrics.

Mincor Resources NL (ASX: MCR)

The Mincor share price is down 2% to $1.51. This may have been driven by a combination of profit taking from investors and a broker downgrade. In respect to the latter, the team at Bell Potter has downgraded the nickel miner's shares to a hold rating with a $1.70 price target. It believes Wyloo Metals' takeover approach is opportunistic.

Race Oncology Ltd (ASX: RAC)

The Race Oncology share price is down 8% to $1.84. This morning the oncology company announced a surprise change to its leadership team. Race Oncology revealed that Dr Daniel Tillett has stepped down from his roles of executive director and chief scientific officer.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is down over 10% to $4.97. This has been driven by the semiconductor company completing an institutional placement this morning. Weebit Nano has raised $45 million via a fully underwritten institutional placement at a 9.7% discount of $5.00 per new share. The proceeds will be used to fund the further development and commercial roll-out of Weebit Nano's ReRAM technology.

The post Why Block, Mincor, Race Oncology, and Weebit Nano shares are sinking today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:

Brickworks Limited (ASX: BKW)

The Brickworks share price is up 3.5% to $23.88. This follows the release of the building products company's half-year results this morning. Thanks largely to its property business, Brickworks delivered a 24% increase in half-year underlying profit to a record $410 million. This allowed the company to increase its interim dividend by 5% to 23 cents per share.

Healius Ltd (ASX: HLS)

The Healius share price is up 1% to $3.03. Investors have been buying this healthcare company's shares this week after it received a takeover approach from smaller rival Australian Clinical Labs Ltd (ASX: ACL). Although the offer is not at a premium, Australian Clinical Labs expects to create significant value for shareholders by merging the two companies.

Mincor Resources NL (ASX: MCR)

The Mincor share price is up a further 3.5% to $1.58. This nickel miner's shares have risen strongly this week after Twiggy Forrest's Wyloo Metals business made a takeover approach. Wyloo has tabled a $1.40 per share offer, which values the company at $760 million. Investors appear to believe that BHP Group Ltd (ASX: BHP) could come in with a higher offer.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is up 2% to $11.43. Investors have been buying Northern Star and other gold miners today after the price of the precious metal rebounded overnight. Traders appear to believe the safe haven asset will benefit from market volatility caused by rising interest rates. The S&P/ASX All Ordinaries Gold index is up 1.2% this afternoon.

The post Why Brickworks, Healius, Mincor, and Northern Star shares are rising today appeared first on The Motley Fool Australia.

Four ASX shares that are climbing more than most today are listed below. Here's why they are rising:

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's share price is up 5% to $48.41. This appears to have been driven by a note out of Barrenjoey this morning. Its analysts believe that the pizza chain operator's shares have dropped to an attractive level and upgraded them to an overweight rating from neutral.

Incitec Pivot Ltd (ASX: IPL)

The Incitec Pivot share price is up almost 4% to $3.24. Investors have been buying this industrial chemicals company's shares after it announced an agreement for the sale of its Waggaman operation in the United States to CF Industries for A$2.5 billion. The company expects to bank after tax cash proceeds of A$1.25 billion from the sale.

Mincor Resources NL (ASX: MCR)

The Mincor share price is rocketing 42% higher to $1.47. This follows news that Twiggy Forrest's Wyloo Metals business has made a takeover approach for the nickel producer. Wyloo has tabled a $1.40 per share offer, which values the company at $760 million. Clearly, based on its current share price, the market believes an even better offer is coming.

New Hope Corporation Limited (ASX: NHC)

The New Hope share price has jumped 9% to $5.34. Investors have been buying this coal miner's shares following the release of its strong half-year result. New Hope reported the doubling of its net profit after tax to $668.6 million, which allowed it to lift its interim dividend by 76% to 30 cents per share. A special 10 cents per share dividend was also declared.

The post Why Domino's, Incitec Pivot, Mincor, and New Hope shares are racing higher appeared first on The Motley Fool Australia.

Mincor shares are exploding 42% and are currently fetching $1.478. For perspective, the S&P/ASX 200 Index (ASX: XJO) benchmark is lifting 1.3% today.

So what could be ahead for this ASX mining share?

Nickel explorer explodes more than 40%

Mincor shares are surging today after Andrew Twiggy Forrest's privately owned Wyloo Metals launched a $760 million takeover bid for the company.

Wyloo owns 19.9% of Mincor's shares already and is the company's largest shareholder.

Shareholders were offered $1.40 cash per share in an announcement to the market this morning, 35% more than Mincor's last closing price. However, Mincor's share price is now trading higher than the offer price.

Commenting on the offer, Wyloo Metals said:

Wyloo believes that the offer represents attractive value to Mincor shareholders, particularly given the current risks and uncertainties associated with remaining a Mincor shareholder in the face of prevailing economic and equity market risks.

Bank of America and Clayton Utz have been engaged by Wyloo to advise on the potential today.

What's next?

Despite today's takeover offer, there could be counterbids on the horizon. Where would these come from?

Nickel miner IGO Ltd (ASX: IGO) and BHP Group Ltd (ASX: BHP) could be potential bidders, the Financial Review reported today. BHP has previously held talks with Mincor about a takeover in the past, according to the publication.

BHP, via Nickel West, produces and exports nickel to global markets for use in electric vehicle (EV) batteries. The mining giant is already proposing to take over 100% of Oz Minerals Ltd (ASX: OZL) shares via a scheme of arrangement. Mincor provides BHP with nickel under an agreement.

IGO is a nickel producer in Western Australia with multiple operations in production including Nova and Forrestania. The company also explores copper, lithium and rare earth elements. In 2022, the company acquired nickel miner Western Areas via a scheme of arrangement.

In a presentation today, IGO said it is "committed to downstream integration in both nickel and lithium".

IGO said new nickel supply will be needed from 2026 as "EV demand exceeds supply".

Mincor share price snapshot

The Mincor Resources share price descended 29% in the last year and nearly 2% year to date.

This ASX mining share now has a market capitalisation of nearly $792 million based on the current share price.

The post The Mincor Resources share price is skyrocketing 42%, what could be next for this ASX mining share? appeared first on The Motley Fool Australia.

The Aussie billionaire's privately-owned Wyloo Metals made a $760 million offer for the battery metals stock this morning.

The offer, if accepted, could see shareholders receiving $1.40 for each of their securities – a 35% premium on the Micor share price's previous close. Though, the market appears to think the rich lister could go higher.

Stock in the ASX All Ords takeover target is surging 40.87% to trade at $1.465 apiece at the time of writing.

Let's take a closer look at the offer on the table from the Fortescue icon.

Twiggy tables $760m bid for ASX All Ords nickel miner

Fortescue's Twiggy Forrest has put forward an on-market takeover offer to buy all shares in ASX All Ords nickel producer Mincor.

The billionaire already boasts a 19.99% stake in the battery metals stock.

That stake was worth around $111 million when the Mincor share price closed Monday's session at $1.04. At that price, the company boasted a market capitalisation of around $557 million according to the ASX.

Though, the $1.40 all-cash bid still represents a bargain compared to the stock's recent highs. The Mincor share price peaked at $2.84 in April 2022.

Not to mention, the ASX All Ords company offered new shares for $1.39 apiece under a recent $55 million placement.

On announcing the bid, Wyloo Metals commented:

Wyloo believes that the offer represents attractive value to Mincor shareholders, particularly given the current risks and uncertainties associated with remaining a Mincor shareholder in the face of prevailing economic and equity market risks.

Wyloo considers these risks may be weighing on Mincor's valuation, as demonstrated by the 49% decline in its share price over the last 12 months.

The offer period in which Mincor shareholders can accept the Fortescue boss' offer will open on 5 April. It will close on 8 May unless it's extended.

Twiggy first bought into the ASX All Ords nickel share in 2019, snapping up a 6% stake.

The post Guess which ASX All Ords mining share Fortescue's Twiggy Forrest is eyeing off for $760m appeared first on The Motley Fool Australia.

But with the stock prices of most of the producers now fully priced, what about some of the other ingredients necessary for a net-zero future?

Nickel is known to be one of those minerals. The importance of its role is reflected in how the nickel price has risen about 35% since July.

So should you invest in a nickel miner and, if so, which ASX shares are the best investments?

Shaw and Partners portfolio manager James Gerrish answered this very question this week.

Future of nickel in batteries is under a cloud

Gerrish has one warning for investors considering buying nickel mining ASX shares.

"High energy lithium-ion batteries use nickel, cobalt and manganese, whereas LFP batteries use lithium iron phosphate, a non-toxic material, as the cathode material. That is, no nickel," he said in a Market Matters Q&A.

LFP is starting to eat into lithium-iron's market share. 

According to power systems manufacturer Cummins, LFP batteries are cheaper to produce and can be charged to 100% without degradation.

And, as Gerrish mentioned, LFP is safer due to the absence of toxic materials.

"With [LFP] gaining more traction of late, nickel has lost some of its lustre as an ESG investment making this no longer an area Market Matters wants to be aggressively long."

Which ASX nickel stock is best? IGO vs Mincor

But if he had to dip into the nickel industry, Gerrish was asked whether he would choose IGO Ltd (ASX: IGO) or Mincor Resources NL (ASX: MCR).

Mincor is a specialist nickel producer, whereas IGO extracts other minerals as well as nickel.

"We prefer IGO over Mincor in the nickel/lithium/EV space," said Gerrish.

"This is a rapidly evolving industry where we would like to stick with the proven names who are making a profit and paying a dividend."

The market conditions at the moment are not rewarding future potential for earnings growth, he added.

"Market Matters holds IGO in our flagship growth portfolio, but only with a relatively small 3% weighting."

The IGO share price has risen 23% in the past 12 months, whereas Mincor has dipped 32% over the same period.

The post Are ASX nickel shares worth investing in? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Coronado Global Resources Inc (ASX: CRN)

The Coronado Global share price is down almost 4% to $2.06. This follows the release of the coal miner's quarterly and full year update. Coronado Global reported a 66.2% increase in full year revenue to a record of US$3,572 million. However, investors appear disappointing by a significant increase in its average mining costs to US$88.40 per tonne. Management blamed inflationary pressures and wet weather.

Mincor Resources NL (ASX: MCR)

The Mincor share price is down 6% to $1.73. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has downgraded the nickel developer's shares to a neutral rating with a $1.80 price target. Macquarie made the move largely on valuation grounds.

OFX Group Ltd (ASX: OFX)

The OFX share price is down almost 4% to $2.30. This follows the release of the international money services provider's third quarter update. Although OFX delivered solid growth over the prior corresponding period, its numbers were down slightly quarter on quarter. Nevertheless, management has reaffirmed its guidance for FY 2023.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down 7% to 77.5 cents. This is despite the buy now pay later provider reporting a record quarterly performance this morning. The company also revealed that its US operations were profitable at an operating level during the latter two months of the period. However, with Zip's shares rocketing higher yesterday, a lot of this may have already been factored into its valuation.

The post Why Coronado Global, Mincor, OFX, and Zip shares are dropping today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are dropping:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price is down 12% to $5.68. Investors appear disappointed that the mineral exploration company's scoping study has been delayed. Chalice advised that a revised study completion timeline will be determined once the mineral resource is updated in late Q1 of 2023.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue share price is down 3.5% to $20.38. Fortescue and other mining giants have come under pressure today after the iron ore price pulled back overnight. The spot iron ore price dropped almost 2% to US$110.25 a tonne. This has led to the S&P/ASX 200 Materials index falling 1.1% this afternoon.

Mincor Resources NL (ASX: MCR)

The Mincor share price is down 6% to $1.49. This morning the nickel explorer announced the successful completion of a $55 million institutional placement. These funds were raised at $1.39 per new share, which represents a 12.3% discount to its last close price. The proceeds will be used to accelerate underground development at the Northern Operations and accelerate underground exploration and drilling at its new Cassini Operation.

Zip Co Ltd (ASX: ZIP)

The Zip share price is down almost 8% to 66 cents. This follows news that the buy now pay later provider has raised $13.6 million from institutional investors at a 13.2% discount of 62 cents per new share. Zip advised that the proceeds will be used to fund the conversion of some of its notes earlier than planned. In other news, management revealed that trading has been in line with expectations so far in FY 2023.

The post Why Chalice Mining, Fortescue, Mincor, and Zip shares are dropping today appeared first on The Motley Fool Australia.

Andrew 'Twiggy' Forrest AO is the founder and executive chairman of the iron ore giant Fortescue Metals Group Limited (ASX: FMG).

In a disclosure to the ASX today, nickel miner Mincor Resources NL (ASX: MCR) revealed that Forrest invested $36.7 million in new shares between 31 May 2021 to 3 November 2022.

Forrest was already a 'substantial holder', meaning he already owned more than 5% of the company's shares on issue. In fact, he owned 15%.

Over the 17-month period, he bought 27.44 million shares on-market, according to the disclosure. This and some other trading activity took his net overall stake in the company to 18.68%.

Forrest holds Mincor Resources shares personally, as well as through his private company, Tattarang, and also through Wyloo Metals, a subsidiary of Tattarang. Wyloo develops low-carbon mining projects.

Why is Forrest buying up this ASX mining share?

It's no secret that Forrest is one of the leaders in Australian business pushing for a lower carbon future.

He's investing substantially in every aspect of the global energy transition via his Fortescue Future Industries (FFI) business.

Forrest famously spent much of the first year of COVID-19 on a private jet with a special team travelling the world to pursue new mining and investment opportunities.

FFI is now developing a host of renewable energy and green hydrogen projects.

Nickel's role in the energy transition largely has to do with powering electric vehicle (EV) batteries. It gives the batteries longer life. Nickel is also used in renewable energy storage systems.

What is Mincor Resources?

Mincor Resources is a nickel sulphide developer and explorer with three mines in Western Australia's Kambalda and Widgiemooltha areas. It has a market capitalisation of $685 million.

Mincor has not produced nickel for six years but the company is now producing it again. It has an offtake agreement with the Nickel West concentrator owned by BHP Group Ltd (ASX: BHP).

The company is now calling itself "the Premier pure-play Australian nickel producer", according to a presentation given to shareholders today.

Mincor Resources AGM today

The company held its annual general meeting today (AGM) and provided an investor presentation.

In his address, interim executive chair Brett Lambert said although Kambalda is a mature nickel mining district, discoveries at two new and previously unmined deposits indicated "clear potential remains to identify new nickel sulphide deposits of significance".

He said:

To grow and sustain our business, we are continuing to explore our extensive Kambalda tenure. This is a core activity for the Company. Over the past 12 months we have expanded our capabilities …

We are applying these enhanced capabilities not only to the acquisition and evaluation of new data in the field, but also to the re-evaluation of historic data.

This is leading to the expansion of Mincor's already broad portfolio of exploration targets, both greenfields and near mine.

Lambert said Mincor's most outstanding exploration success in FY22 was "undoubtedly" the LN04a mineralised surface found in just the second drill hole of a 1.2 km untested area.

The initial ore reserve for LN04a was announced last week. At 12,500 tonnes of contained nickel, the reserve is 58% higher than previous estimates and extends the life of the mine by about one year.

Lambert said:

It is very pleasing to have achieved this so early and it reminds me of the very last words of my 2020 Chairman's address, which were – "I see the five year plan mapped out in the DFS as just the beginning". I say now that I am very confident there is much more to come.

The history of this ASX mining share

The Mincor Resources share price is up 0.14% to $1.41 as the close of trade draws near.

It's down 20% year to date and up 7.7% over the past 12 months.

Over the past five years, this ASX mining share has delivered shareholders a 225% capital gain.

The post Guess which ASX mining share Andrew Forrest has been buying up this week (Hint: not Fortescue) appeared first on The Motley Fool Australia.

This may surprise some investors as the S&P/ASX 200 Materials Index (ASX: XMJ), which tracks the mining sector, hasn't exactly had a stellar performance year to date. In fact, it's down 9.95%.

On an industry level, things aren't too hot either with the S&P/ASX 300 Metals and Mining Index (ASX: XMM) also down 7.72% over the same period.

So these companies are outliers from the aggregate performance of their peers. They were included due to a surge in their share prices over the last quarter which, in turn, boosted their market capitalisations high enough to overtake laggards in the index.

This was helped by the relatively poor performance of shares in other sectors, such as information technology and consumer discretionary. These have been two of the worst hit on a year-to-date basis. It's also helped companies from stronger sectors over the last quarter to take their positions in the index.

Let's find out which miners are new to the ASX 300.

Which mining companies were added to the index?

They are:

• 5E Advanced Materials Inc (ASX: 5EA) is a mineral exploration company. Market capitalisation: $706 million
• Arafura Resources Ltd (ASX: ARU) is a rare earth exploration company. Market capitalisation: $586 million
• Grange Resources Ltd (ASX: GRR) is an iron ore mining and pellet production business. Market capitalisation: $862 million
• Argosy Minerals Ltd (ASX: AGY) is a mineral exploration company. Market capitalisation: $553 million
• Mincor Resources NL (ASX: MCR) is a high-grade nickel producer. Market capitalisation: $1.02 billion
• Neometals Ltd (ASX: NMT) is a producer of sustainable battery materials. Market capitalisation: $723 million

The post These 6 ASX mining shares are now in the ASX 300 appeared first on The Motley Fool Australia.

While most people are aware of the crucial role of lithium in lithium-ion batteries, nickel is also a critical battery element. In fact, a single Tesla battery requires some 50 kilograms of nickel.

Certainly, no unwelcome news for nickel stocks.

The bulk of nickel is currently used in the manufacture of stainless steel, with some 15% going to the EV market. But that share is likely to grow.

China, the world's most populous nation and number two economy reported record high EV sales of 571,000 vehicles for the month of June.

And Hayden Bairstow, resources division director at Macquarie, expects the percentage of nickel demanded by the EV industry to "move into the 20s and 30% of the total, and beyond that over time, as the EV market gets larger and larger".

That's a healthy longer-term outlook for demand.

Now, how have some of the leading ASX nickel stocks been tracking this year?

ASX nickel stocks mixed performance for 2022

There's a wild divergence between the share price moves among the ASX nickel stocks year-to-date.

Digging into the specific factors that have lifted or lowered the individual company share prices is beyond the scope of this article. And bear in mind that most of these miners are not solely focused on nickel, though the metal does form a key part of their exploration and production goals.

With that said, here's how these ASX nickel stocks have fared so far in 2022:

• Poseidon Nickel Ltd (ASX: POS) share price is down 48%
• Mincor Resources NL (ASX: MCR) share price is up 17%
• Nickel Industries Ltd (ASX: NIC) share price is down 23%
• OZ Minerals Limited (ASX: OZL) share price is down 11%

Moving on to a few other big-name ASX stocks looking to increase their nickel exposure, we have IGO Ltd (ASX: IGO). IGO completed its acquisition of nickel miner Western Areas in June. IGO shares have gained 1% this year.

Then there's BHP Group Ltd (ASX: BHP), the biggest stock on the ASX and among the world's biggest miners.

BHP's unsolicited proposal to acquire all shares in Oz Minerals for $25 per share in cash was rejected by the ASX nickel stock.

Addressing BHP's proposal and the subsequent rejection, Oz Minerals CEO, Andrew Cole said, "We have a unique set of copper and nickel assets, all with strong long-term growth potential in quality locations."

The BHP share price is down 3% in 2022.

The post How have ASX nickel stocks been performing in 2022? appeared first on The Motley Fool Australia.

This comes as nickel prices are rebounding and global EV production is booming. China reported an all-time high of 571,000 EV sales in June, helping drive increased demand for the metal.

Like lithium, nickel is a core element in EV and grid storage batteries. Most of the global nickel production goes into making stainless steel. But some 15% is now used in the EV market. And that share is likely to grow, with a single Tesla battery requiring some 50 kilograms of nickel.

According to Hayden Bairstow, resources division director at Macquarie (courtesy of ABC News):

But certainly over time, expectations are that [electric vehicles] will become a much larger piece of the demand pie for nickel. It is about 15% now of the global nickel demand market, if you like, for electric vehicles.

That's certainly grown from basically nothing a few years ago, and the expectations are that it will move into the 20s and 30% of the total, and beyond that over time, as the EV market gets larger and larger.

That strong demand growth should offer some welcome tailwinds for ASX shares with nickel exposure.

Which ASX shares have exposure?

There are a number of ASX shares with a strong focus on nickel exploration and production.

Some leading names include Poseidon Nickel Ltd (ASX: POS), Mincor Resources NL (ASX: MCR), and Nickel Industries Ltd (ASX: NIC).

Some of the biggest ASX mining shares have also been actively seeking to increase their nickel holdings, partly driven by forecasts of continued growth in EV battery demand.

In June IGO Ltd (ASX: IGO) completed its acquisition of nickel miner Western Areas.

At the time, IGO's CEO, Peter Bradford said the move was "a logical consolidation of key nickel assets in Western Australia". Bradford added that the acquisition improved the company's position "as a leading, independent producer of metals critical for a clean energy future".

BHP nickel expansion thwarted… for now

The largest ASX share of them all and one of the world's biggest miners, BHP Group Ltd (ASX: BHP), made headline news earlier this month for its unsolicited, conditional and non-binding indicative proposal to acquire all shares in nickel and copper focused OZ Minerals Limited (ASX: OZL).

The takeover offer of $25 per share in cash was unanimously rejected by Oz Minerals' board. Commenting on that decision, CEO Andrew Cole said, "We have a unique set of copper and nickel assets, all with strong long-term growth potential in quality locations."

The post Why is nickel such a big deal and which ASX shares have exposure? appeared first on The Motley Fool Australia.

Nickel explorers in the red today include Nickel Mines Ltd (ASX: NIC), Mincor Resources NL (ASX: MCR), Panoramic Resources Ltd (ASX: PAN), and IGO Ltd (ASX: IGO). By comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) is down 0.91% at the time of writing.

Let's take a look at why nickel shares are having such a tough day on Wednesday.

Nickel outlook

The IGO share price is down 13% at the time of writing with Nickel Mines 4.12% lower. Meanwhile, Mincor Resources is down 4.69% while Panoramic Resources is 6.78% in the red.

ASX nickel shares appear to be falling in response to nickel price pressure and a note out of Goldman Sachs.

The nickel price has fallen 3% today to $28,343 per tonne, Trading Economics data shows.

But it seems the Goldman Sachs Group may have had the most impact. The broker has predicted key battery metals, including nickel, cobalt, and lithium, could drop over the next two years, Bloomberg reported.

Analysts Nick Snowdon and Aditi Rai predicted nickel will rise 20% this year before being driven down by "fundamental pressures".

Nickel is a crucial component in electric vehicle batteries. 

The analysts also expressed overall concern the battery metals bull market is over. They said:

Investors are fully aware that battery metals will play a crucial role in the 21st century global economy.

Yet despite this exponential demand profile, we see the battery metals bull market as over for now.

Nickel Mines held its annual general meeting yesterday. In a presentation titled "Building a Nickel Empire", the company highlighted it plans to become among the top 10 nickel producers in the world.

Share price recap

While these four ASX nickel shares may be down today, overall they have surged over the past year.

Mincor shares have exploded 133% in the past 12 months while Panoramic shares have soared 67%. The Nickel Mines share price has jumped 21% and IGO shares are 44% higher.

In comparison, the S&P/ASX 200 Index (ASX: XJO) has returned around 1% in the past year.

The post Why are ASX nickel shares tumbling today? appeared first on The Motley Fool Australia.

Nickel shares on the ASX include Nickel Mines Ltd (ASX: NIC), Mincor Resources NL (ASX: MCR), Panoramic Resources Ltd (ASX: PAN), and IGO Ltd (ASX: IGO). The S&P/ASX 200 Resources Index (ASX: XJR) is 5.14% lower at the time of writing.

Let's take a look at why these shares are suffering today.

Nickel prices fall

The Nickel Mines share price is down 3.8% today and, at the time of writing, Mincor is trading 4.12% lower. Meanwhile, IGO is 6.45% in the red while Panoramic Resources is down 4.48%.

It seems volatility in world nickel markets is returning with the price of nickel on the London Metal Exchange "moving erratically", Trading Economics reported.

The nickel price fell 1.4% in a day on global markets to US$32,607 per tonne. Shanghai's most active nickel contract also dropped more than 3%, according to a report cited by NAB trade.

This is in stark contrast to early March when the nickel price briefly hit more than US$100,000 per tonne. This led to the London Metal Exchange (LME) freezing trading of the commodity for a few days. In the past year, the nickel price has skyrocketed 96%.

On Friday, Mincor Resources reported it is on the verge of reaching nickel producer status. The company's first nickel concentrate is expected in the June quarter. Mincor has cash in the bank of $84.4 million.

Meantime, Nickel Mines will release its quarterly results on Thursday 28 April.

Share price recap

The Nickel Mines share price has dropped more than 11% in the past year while Mincor has surged 136%. The Panoramic share price has also soared. It's 117% higher in the past year while IGO has rocketed 77%.

In contrast, the S&P/ASX 200 Index (ASX: XJO) has returned 4% in the past year.

The post What's happening to ASX nickel shares today? appeared first on The Motley Fool Australia.

Four ASX nickel shares that finished in the green include Mincor Resources NL (ASX: MCR), Panoramic Resources Ltd (ASX: PAN), IGO Ltd (ASX: IGO) and Western Areas Ltd (ASX: WSA).

Let's take a closer look at their performance today.

Nickel buying frenzy shoots price to record highs

ASX nickel shares jumped today after nickel prices continued to explode in international markets overnight.

By the close of trade on Wednesday, Mincor shares had climbed 2.93%, Panoramic shares were up 3.23%, the IGO share price jumped 2.19% and Western Areas finished 1.73% higher.

Nickel prices hit record highs above US$100,000 a tonne overnight. The metal surged 400% compared to Friday's close, according to a report on NAB trade.

In response to these unprecedented prices, the London Metal Exchange suspended nickel trading until at least Friday.

Nickel prices have rocketed 104.49% in a month and 200.57% in a year, trading economics data reveals.

In a report from Thomson Reuters cited by NAB, ING analysts said Nickel is clearly trading in crisis mode.

Fundamentals, though supportive of stronger prices, do not justify this frenzy. The market has long faced structural issues.

Nickel is a crucial component in electric batteries. In a company presentation reported to the market yesterday, Mincor noted electric vehicle sales could hit 20 million by 2025 and more than 70 million by 2040. The company added:

High nickel content batteries are the key to longer range, more efficient electric vehicles.

One ASX nickel share that wasn't so lucky today was Nickel Mines Ltd (ASX: NIC). As my Foolish colleagues reported, the company's share price plummeted today, sinking 23% before recovering to finish 4.75% in the red at market close.

ASX nickel share recap

Despite some experts calling it out today as a market frenzy, it's been a big 12 months for ASX nickel shares. Mincor shares have rocketed 115% in the past year, Panoramic is up a whopping 146%, the IGO share price has seen gains of 108% and Western Areas shares surged 50% in this period.

In comparison, the S&P/ASX 200 Index (ASX: XJO) has returned around 4.16% in the past year.

The post Four ASX nickel shares are in the green today. Here's why appeared first on The Motley Fool Australia.

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ASX mining shares with an interest in nickel are rising today amid a surge in the price of the key commodity. The nickel price is booming on global markets amid supply concerns over the Russian invasion of Ukraine.

Four ASX nickel shares include Nickel Mines Ltd (ASX: NIC), Mincor Resources NL (ASX: MCR), Panoramic Resources Ltd (ASX: PAN), and IGO Ltd (ASX: IGO).

Let's take a look at how these nickel shares are performing.

Nickel prices explode

The Nickel Mines share price has surged 18% since market close on 24 February. Over the same period, Mincor shares have gained 19%, Panoramic Resources has rocketed 37%, and IGO Resources has soared 24%.

These ASX mining shares are seeing steep climbs amid skyrocketing nickel prices. Nickel rocketed 90% to all-time highs on commodity markets on Monday, according to reports on NABtrade.

The nickel price is surging amid supply concerns due to economic sanctions being imposed on Russia. A report from Reuters, cited by NAB, said:

Russia supplies around 10% of the world's nickel, and investors fear that Western sanctions against Russia could disrupt air and sea shipments of commodities produced and exported by Russia.

The nickel price hit $55,000 a tonne earlier in the trading session on the London Metal Exchange. At the time of writing, it is up nearly 73% to $50,300 a tonne.

Panoramic recently provided an update on its drilling at the company's Savannah Nickel Project in Western Australia. Drilling at the mine identified a new zone of semi-massive mineralisation. Commenting on the news, CEO Victor Rajasooriar said:

Pleasingly, in our first hole, we have intersected an unexpected splay which has the potential to add additional metal to our mining inventory

This morning, Mincor Resources released a copy of a company presentation at the Euroz Hartleys Conference on Rottnest Island. Mincor described its Cassini mine as Australia's "newest high-grade underground nickel operation" on the cusp of production.

The company said demand for clean nickel will rise with the increasing electric vehicle uptake. Mincor presented figures showing annual passenger EV sales could hit 20 million by 2025 and more than 70 million by 2040.

Share price snapshot

The Nickel Mines share price has surged 29% in the past year while Mincor has gained 124%. Panoramic has rocketed 146%, while IGO has shot up 110%.

Year to date, the Nickel Mines share price is up 19%. Meanwhile, Mincor has gained 28%, Panoramic is 20% higher, and IGO has increased by 17%.

For perspective, the benchmark S&P/ASX 200 Index (ASX: XJO) has returned around 5% over the past year.

The post The price of nickel is soaring and these ASX mining shares are cashing in appeared first on The Motley Fool Australia.

Commodity prices have broadly risen over the past two years, with some prices doing particularly well.

Resource businesses rely on the commodity price to make attractive profits. It typically costs a business the same amount to extract a resource whether a price is a bit higher or lower. If a commodity price jumps higher, that can mean it largely adds to profit (aside from paying extra money to the government).

These three ASX mining shares just hit 52-weeks highs:

Coronado Global Resources Inc (ASX: CRN)

Coronado was one of the miners to hit a new high. It ended the day at $1.70.

Over the last year the Coronado Global Resources share price has risen by 71%.

This business is one of the world's largest producers of metallurgical coal.

It recently reported its FY21 result for the 12 months to 31 December 2021, which showed a 46.9% increase of revenue to $2.15 billion and a 184% rise of 'net income' (net profit) to $189.4 million.

Management noted the prospect of prolonger higher coal prices, as demand for steel continues to rise and outstrip supply in the short-term.

Capricorn Metals Ltd (ASX: CMM)

During the day's trade, the Capricorn Metals share price reached $3.83.

Over the past year, Capricorn Metals shares have risen by 159%.

What does Capricorn do? It's a business that operates in the gold sector with two project areas – the Karlawinda Gold Project and the Mt Gibson Gold Project.

Gold prices have risen amid the conflict between Russia and Ukraine.

The ASX mining share recently revealed its quarterly update for the three months to December 2021. That update showed quarterly gold production of 30,316 ounces, with guidance of between 110,000 ounces to 120,000 ounces for FY22. Its cashflow was $40.1 million for the quarter.

Mincor Resources (ASX: MCR)

The Mincor Resources share price spiked to $2.06 earlier today, hitting a 52-week high.

Over the last year the Mincor share price has climbed 91%.

Mincor Resources says that it's focused on re-establishing sustainable, high-grade nickel production in the Kambalda district of Western Australia.

During the ASX mining share's recent half-year, it noted that the first nickel was extracted from two development headings at its northern operations, recruited key operational staff and it also included the issue of the formal 'start notice' to BHP Group Ltd's (ASX: BHP) Nickel West, which indicated the company's intention to supply the first ore for processing.

The post 3 ASX mining shares breaking new 52-week highs today appeared first on The Motley Fool Australia.