SKRR Exploration – Father Lake Nickel Project Is One to Watch

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Nickel prices soar 90% to new record high on worries about shortages from major supplier Russia

Nickel prices in London leapt 90% during last Monday’s session, sending prices above $55,000 a metric ton.

Prices surged on concerns that Russia’s nickel production will be disrupted during Moscow’s invasion of Ukraine.

Russia is the world’s third-largest nickel producer, and the metal is used in key technologies like EV batteries.

Nickel prices in London logged a record surge last Monday amid escalating concerns that production in Russia will be disrupted in the wake of Moscow’s invasion of Ukraine.

The three-month nickel contract leapt 90% to trade above $55,000 a metric ton on the London Metal Exchange, according to pricing from Bloomberg. That marks a new all-time high, and the jump of more than $26,000 marked the biggest single-day dollar gain ever.

Russia is the world’s third-largest nickel producer, according to the US Geological Survey, with roughly two-thirds of global nickel production used to make stainless steel. Nickel is also key in the growing market for batteries used in electric vehicles.

Nickel, alongside prices for oil, wheat, natural gas, and other commodities, have soared following Russia’s attack on Ukraine nearly two weeks ago, with the military action prompting sanctions against Russia by the US and its Western allies.

SKRR full news release here:

SKRR Announces Completion of Drilling at Olson: All Ten Holes Testing Four Target Areas Intersected Sulphide and Quartz Veining Mineralization

IWA is a shareholder of SKRR Exploration

Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental, and technological factors that may affect the Company’s operations, markets, products, and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.

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