# As Global Nickel & Cobalt Demand Accelerates, Awaruite Showing Potential to Become a Strategic Source of Supply Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become--de3c6680-fce5-4c0c-be15-325bb38f8e89 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: 2026-08-23 10:33:38 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary First Atlantic Nickel reported preliminary metallurgical results from its ONSHORE MAX process at the Pipestone XL Project. 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 reported first-ever bench-scale metallurgical results for its ONSHORE MAX process, producing a high-grade nickel concentrate \(up to 71.9% Ni\) and cobalt \(1.76% Co\) from awaruite mineralogy. - Positive factor: High-grade concentrate produced - Positive factor: First-ever bench-scale results for this process - Positive factor: Simple two-stage metallurgical route - Positive factor: Smelter-free pathway - Negative factor: Bench-scale only \(not pilot scale\) - Negative factor: Preliminary results Facts used in scoring: 3 ## Classification and evidence **Bench Scale Only** Polarity: negative Definition: Only preliminary bench tests completed — no locked-cycle or pilot work. Why it applies: The results are described as the company's first-ever bench-scale metallurgical recovery and concentration test work. Evidence · text > represents the Company's first-ever bench-scale metallurgical recovery and concentration test work **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: The process involves magnetic separation and flotation equipment. Evidence · text > combining low-intensity magnetic separation and flotation ## 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-staging.minestarters.com/news/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become--de3c6680-fce5-4c0c-be15-325bb38f8e89#fact-metallurgical-facts-0) nickel #### Identity - Commodity: nickel - 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 \(AN-24-02 composite\) #### Recovery - Recovery Basis: unspecified - 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 of 71.9% Ni is exceptionally high, approaching pure awaruite mineral. - Positive factor: Extremely high concentrate grade Evidence · text > upgraded RPM Zone drill core into an almost-pure awaruite \(Ni3Fe\) concentrate grading up to 71.9% nickel ### flotation [Link to this fact](https://atlas-staging.minestarters.com/news/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become--de3c6680-fce5-4c0c-be15-325bb38f8e89#fact-metallurgical-facts-1) cobalt #### Identity - Commodity: cobalt - 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 \(AN-24-02 composite\) #### Recovery - Recovery Basis: unspecified - 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, but returned a significant 1.76% grade in the concentrate. - Positive factor: Significant cobalt byproduct in concentrate Evidence · text > returning 1.76% cobalt in the concentrate ### magnetic separation [Link to this fact](https://atlas-staging.minestarters.com/news/as-global-nickel-cobalt-demand-accelerates-awaruite-showing-potential-to-become--de3c6680-fce5-4c0c-be15-325bb38f8e89#fact-metallurgical-facts-2) nickel #### Identity - Commodity: nickel - 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 - Recovery Basis: unspecified - 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: The LIMS step successfully upgraded the 0.12% Ni head grade to a 1.6% Ni magnetic concentrate. - Positive factor: Successful initial concentration step Evidence · text > magnetic concentrate grading approximately 1.6% nickel ## 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.