Canada-focused Landore Resources (LON:LND) was upbeat on the outlook for nickel prices as it posted its 2014 final results.
The firm is developing its flagship Junior Lake project in Ontario, which is prospective for, among others, nickel, copper, PGE's and gold, and where it concentrated efforts last year.
Here, the group is looking for a team to undertake pre-feasibility metallurgical and geotechnical studies on the B4-7 deposit part of the property, including the Alpha Zone, to be completed by the fourth quarter this year.
It also plans a drilling programme for the latter half of 2015 aimed at raising the 'Exploration Target' at the property up to Ni 43-101 inferred status within the B4-7 resource.
Landore said it was "confident" that with added tonnage from the Alpha Zone and Exploration Target, its aim of defining at least 100,000 tonnes of nickel equivalent was "well at-hand".
"Nickel prices during this year have been weighed down by an overhang of stocks and the global slowdown.
"However, most analysts believe that demand is already improving and that as stocks wind down , the outlook for the rest of 2015 and onwards is positive," chairman William Humphries said in a statement.
The loss for the year to end December was around £5.73mln compared to £2.415mln in 2013 - the majority of the increased deficit was due to an impairment charge of around £3.4mln on the firm's loan to Lamaune Iron Inc
Although the note is not repayable until April, 2019, Landore reckoned it was prudent to make full provision due to the severe downturn in the global iron ore market.
The firm had cash of £1.067mln at the end of the year.