Initiating Coverage
We are initiating coverage of EV Nickel Inc. (TSXV:EVNI) with a BUY (Speculative) rating and C$0.90 target priceEV Nickel is a nickel exploration company that owns the large, +30,000 ha, Shaw Dome project just outside Timmins, Ontario. Since listing, the company has been rapidly advancing the project, which is prospective for both small-scale, higher-grade deposits such as W4 and large-scale deposits such as at CarLang. We believe EV Nickel could become a major player when it comes to Class 1 Ni – particularly given its favourable location near Timmins and proximity to past-producing Ni mines – and that it stands to benefit from the global trend towards electrification, which will require increased Ni production to meet the demands of the worldwide green economy.