St George Mining Ltd (ASX:SGQ) has been granted a trading halt by the ASX pending the release of significant drilling results from the company’s Mt Alexander Project in Western Australia.
Shares in the company will remain halted until the earlier of either the release of the drilling results or the commencement of trading on Thursday, October 25, 2018.
St George’s Stricklands, Investigators and Cathedrals discoveries at the Mt Alexander project consists of five exploration licences in the Cathedrals Belt.
Nickel-copper sulphides occur over a 4.5 kilometre strike of the Cathedrals Belt, with definition and deeper drilling underway.
Decreasing stockpiles are leading to rising nickel prices
The demand for nickel from the electric vehicle battery industry is rising faster than expected.
Inventory is falling, premia are rising, indicating a scramble for nickel metal. Meanwhile, little battery-ready mine supply investment is being made.
1 million tonne nickel deficit expected by 2025