# As Global Nickel & Cobalt Demand Accelerates, Awaruite Showing Potential to Become a Strategic Source of Supply Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become--d3b73b81-94ac-4b38-bcdb-7917b1185939 Original source: https://money.tmx.com/en/quote/FAN/news/6925373693562476/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become- Publisher: tmx Original announcement: 2026-06-24T12:45:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: First Atlantic Nickel & Cobalt Corp - Ticker: FAN - Exchange: TSX - Region: Newfoundland - Primary commodity: Nickel - Secondary commodities: Cobalt - Document categories: Metallurgy - Extracted: 2026-09-12 03:22:38 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary First Atlantic Nickel & Cobalt Corp reported preliminary metallurgical results from its ONSHORE MAX process at the Pipestone XL Project in Newfoundland. The two-stage magnetic separation and flotation process produced a high-grade awaruite concentrate containing up to 71.9% nickel and 1.76% cobalt. Reasoning: The company achieved exceptionally high-grade nickel concentrate \(71.9%\) using a simple, low-cost two-stage process, demonstrating a viable smelter-free pathway for awaruite. - Positive factor: High-grade concentrate produced \(71.9% Ni\) - Positive factor: Simple two-stage process \(magnetic separation + flotation\) - Positive factor: Smelter-free processing pathway - Positive factor: First-ever bench-scale results for the company - Negative factor: Preliminary bench-scale results only - Negative factor: Small sample size \(74.5 kg composite\) Facts used in scoring: 3 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The process uses magnetic separation and flotation equipment. Evidence · text > combining low-intensity magnetic separation and flotation **Bench Scale Only** Polarity: negative Definition: Only preliminary bench tests completed — no locked-cycle or pilot work. Why it applies: The release explicitly states this is the company's first bench-scale metallurgical test work. Evidence · text > represents the Company's first-ever bench-scale metallurgical recovery and concentration test work **Gravity Route** Polarity: neutral Definition: Gravity separation forms a material part of the flowsheet. Why it applies: the document describes a gravity route \("gravity"\) **Multi-Domain Tested** Polarity: positive Definition: Variability across ore domains \(oxide, transition, fresh\) has been addressed. Why it applies: 2 distinct composites were tested ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Metallurgical Results (3) ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become--d3b73b81-94ac-4b38-bcdb-7917b1185939#fact-metallurgical-facts-0) Pipestone XL Nickel-Cobalt Alloy Project · nickel #### Identity - Project: Pipestone XL Nickel-Cobalt Alloy Project - Commodity: nickel - Region: canada\_nl - Reported Region: Newfoundland - Ticker: FAN #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: low-intensity magnetic separation and flotation - Sample: final flotation test concentrate from RPM Zone composite #### Recovery - Head Grade: 0.12 - Head Grade Unit: % - Conc. Grade: 71.9 - Conc. Grade Unit: % #### Lab - Laboratory: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-24T00:00:00.000Z Reasoning: The concentrate grade is near-pure awaruite mineral. - Positive factor: Concentrate grade of 71.9% Ni is exceptionally high Evidence · text > upgraded RPM Zone drill core into an almost-pure awaruite \(Ni₃Fe\) concentrate grading up to 71.9% nickel #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become--d3b73b81-94ac-4b38-bcdb-7917b1185939#fact-metallurgical-facts-1) Pipestone XL Nickel-Cobalt Alloy Project · cobalt #### Identity - Project: Pipestone XL Nickel-Cobalt Alloy Project - Commodity: cobalt - Region: canada\_nl - Reported Region: Newfoundland - Ticker: FAN #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: low-intensity magnetic separation and flotation - Sample: final flotation test concentrate from RPM Zone composite #### Recovery - Conc. Grade: 1.76 - Conc. Grade Unit: % #### Lab - Laboratory: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-24T00:00:00.000Z Reasoning: Cobalt was only assayed on the final test. - Positive factor: Significant cobalt credit in high-grade nickel concentrate Evidence · text > returning 1.76% cobalt in the concentrate #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ### magnetic separation [Link to this fact](https://atlas-extractions.minestarters.com/news/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become--d3b73b81-94ac-4b38-bcdb-7917b1185939#fact-metallurgical-facts-2) Pipestone XL Nickel-Cobalt Alloy Project · nickel #### Identity - Project: Pipestone XL Nickel-Cobalt Alloy Project - Commodity: nickel - Region: canada\_nl - Reported Region: Newfoundland - Ticker: FAN #### Test Work - Program Status: preliminary - Test Type: magnetic separation - Processing Route: low-intensity magnetic separation and flotation - Sample: magnetic concentrate from LIMS drum #### Recovery - Head Grade: 0.12 - Head Grade Unit: % - Conc. Grade: 1.6 - Conc. Grade Unit: % #### Lab - Laboratory: SGS Canada Inc. #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-06-24T00:00:00.000Z Reasoning: This is an intermediate stage in the two-stage process. - Positive factor: Successful initial concentration step Evidence · text > magnetic concentrate grading approximately 1.6% nickel #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.