Nickel and cobalt exploration has had a renewed interest in recent years as it is the major ingredient in steel production and the ballooning market for electric vehicle cars.

Boadicea began life as a nickel-cobalt explorer with a handful of licences in the Fraser Range. Today the Fraser Range has been named as a significant nickel/cobalt producing region, due to the success and continuing growth of the IGO operations at Nova in the Central Fraser Range area. The Nova discovery is further strengthened by the most recent discoveries of Mawson by Legend Mining and White Knight by the Creasy Group.

Boadicea holds 11 licences in the Fraser Range of which nine (9) are being explored by IGO as part of a five-year deal with the major nickel producer and explorer to explore the tenements on behalf of Boadicea.

Boadicea is focusing its own exploration efforts on two of its tenements, which were not part of the IGO deal – Fraser Range South and the Southern Hills licences. Work will continue to delineate some interesting anomalies that have been discovered through sampling undertaken in 2021.

Outlook for nickel and cobalt exploration

2021 proved a stellar year for the nickel price, with the metal rallying above US$20,000 per tonne or 16% higher.

Nickel demand is expected to stay strong in the near 10-year forecast as it is the main demand driver for stainless steel and electric vehicle batteries.

With the US government announcing an all-electric government vehicle policy and Europe continuing to lead the charge on the growth of electric vehicles, the largest car markets of Asia are likely to quickly follow. The Chinese government is already sounding the trumpet of a cleaner and greener China which will require more electric vehicle production.