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Recording date: 19th April 2022 Nickel continues trading either side of $33,000 ($15/lb) – just a little under it today Nickel inventories largely flat – in 72-74kt range Sulphate prices flat, stainless/NPI chain off a little bit with NPI prices down and stainless inventories ticking up (will need to see what happens post lockdown). Ore inventories continue to decline – down another 3% 2 key stainless markets in China: Wuxi, Foshan – Wuxi currently locked down which is not allowing shipments in/out INSG YTD Feb #’s out – demand up 6%, supply up 13% - showing 3% surplus. EV sales YTD up 100%. How do Russia sanctions affect other nickel developers today? — Crux Investor is an investing app for busy people. For a small, monthly membership fee you’ll receive a single stock recommendation each month, curated by industry experts and presented in a clear and focused one-page memo. Head to Crux Investor to learn more and to sign up for your time-saving, stress-slaying membership today. Learn more: https://cruxinvestor.com Sign up for Crux Investor: https://cruxinvestor.com