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Highlights:
- Nickel is a widely used chemical element. It is mostly used for plating toasters, ovens, rocket engines, etc. As a result, the demand for nickel usually remains strong.
- This article features some of the nickel stocks listed on ASX.
Nickel is a silvery white shiny chemical element with a slight tinge of gold on it. Nickel has an excellent property of preventing corrosion even in high temperatures. Therefore, this element is commonly used for plating or coating other corrosive elements in order to develop a protective layer on it. Electric toasters and ovens are often coated with nickel as it prevents corrosion even when it is red hot.
Apart from plating, nickel is also used for making coins. This element is also used in wires, gas turbines, rocket engines, etc.
In this article, we have primarily featured four ASX-listed nickel stocks and their respective performance on ASX- Nickel Industries Limited (ASX:NIC), Widgie Nickel Limited (ASX:WIN), Galileo Mining Ltd (ASX:GAL), and Ardea Resources Limited (ASX:ARL).
Nickel Industries Limited (ASX:NIC)
Shares of Nickel Industries Limited (ASX:NIC) have closed Wednesday’s trading session on a positive note on ASX. The company’s share price settled at AU$1.00 per share, marking a gain of 1.522% on ASX today.
Over the last 12 months, Nickel Industries’ share price has dropped by 30.56% on ASX. Furthermore, on a YTD basis, the company’s share price came down by 31.51% on ASX. However, on the contrary, Nickel Industries’ share price gained over 2% on ASX in the last one month (as of 4:10 PM AEDT today).
Recently, Nickel Industries has announced that Oracle Nickel Project has produced its first batch of nickel pig iron. Oracle is a 70%-owned nickel project of Nickel Industries in Indonesia.
With this update, Nickel Industries said that it is on the right path to achieve an annual attributable nickel production of more than 100kt by mid-2023.
Widgie Nickel Limited (ASX:WIN)
Shares of Widgie Nickel Limited (ASX:WIN) have settled in the green territory by the end of today’s trading session. The company’s share price closed 1.449% stronger on ASX at AU$0.35 per share on Wednesday.
Over the last 12 months, Widgie’s share price has gone up over 59% on ASX. Furthermore, on a YTD basis, the company’s share price appreciated by 40% on ASX. However, in the last one month, Widgie’s share price has dropped by 25.53% on ASX (as of 4:10 PM AEDT today).
Recently Widgie Nickel has announced assay results from its Reverse Circulation (RC) and diamond infill and extensional drilling program targeting the Gillett mineralisation. The company said that it had discovered additional nine holes at Gillett, and eight holes from the recent Gillett North discovery have been drilled and are pending assay results.
Image source: © Adwo | Megapixl.com
Galileo Mining Ltd (ASX:GAL)
Shares of the mineral resource explorer Galileo Mining Ltd (ASX:GAL) have ended today’s trading session on a stronger note on ASX. Its share price stood at AU$0.890 per share after marking a gain of 9.876% by the end of today’s trading session on ASX.
In the last 12 months, Galileo’s share price has gained significantly over 323% on ASX and on a YTD basis, the company’s share price went up almost by 287% on ASX. On the contrary, the company’s share price dropped below 19% on ASX in the last one month (as of 4:10 PM AEDT today).
Galileo announced the drilling assay results from the diamond core and RC drilling at the Callisto palladium-platinum-gold-rhodium-copper-nickel discovery at its fully owned Norseman project in Western Australia last week.
As per the assay result, the company has found the highest grade of nickel and copper from disseminated sulphides to date, with 1.58% nickel, 0.93% copper, and 3.32 g/t 3E (1) over one metre in the area.
Ardea Resources Limited (ASX:ARL)
Shares of the gold and nickel explorer Ardea Resources Limited (ASX:ARL) closed today’s trading session in the red territory. The company’s share price came down marginally by 0.632% to AU$0.785 per share today (22 December 2022).
In the last 12 months, Ardea’s share price has gained substantially by 63.54% on ASX and on a YTD basis, the company’s share price went up almost by 67% on ASX. On the contrary, the company’s share price dropped below 26% on ASX in the last one month (as of 4:10 PM AEDT today).
With a market capitalisation of AU$ 135.48 million, Ardea Resource Limited is an ASX-listed mineral explorer company. It got listed on ASX in the year 2017. The company currently holds various mining and exploration assets, including the Kalgoorlie Nickel Project in Australia. Ardea’s headquarter is situated in West Perth, Australia.
