The KE Report

Martin Turenne, President and CEO of FPX Nickel (TSX-V: FPX - OTCQB: FPOCF), joins me to discuss the company’s latest developments, including a scoping study for North America’s first large-scale nickel sulfate refinery, and the 2025 roadmap for the Baptiste Nickel Project, in central BC, one of the world’s largest undeveloped nickel deposits.

Key Interview Highlights:

• Scoping Study – A Made-in-Canada Nickel Sulfate Refinery:
  
  FPX released a scoping study evaluating a standalone refinery to process Baptiste’s concentrate into battery-grade nickel sulfate, creating a vertically integrated EV supply chain solution in Canada.
  
  


• Strategic Positioning in Critical Minerals:
  
  Martin outlines how FPX is leading peers with clear, actionable steps toward domestic refining capacity—an essential piece of North America's EV supply chain strategy.
  
  


• 2025 Work Plans for the Baptiste Project:
  
  
  
  
  1. Entry into the Environmental Assessment (EA) process expected in Q4 2025
     
     
  
  
  2. Ongoing environmental baseline work, engineering studies, and geotechnical drilling
     
     
  
  
  3. FPX is the first company accepted into BC’s new Critical Minerals Office (CMO), helping streamline EA permitting
     
     
  
  
  
  


• Government Policy & Industry Tailwinds:
  
  Martin shares insights from ongoing provincial and federal discussions. While government capital may be limited, support for faster permitting and critical mineral policy is the focus.
  
  


• Global Nickel Outlook & Indonesia's Dominance:
  
  Despite nickel prices remaining subdued around $7/lb, nearly 50% of global production is unprofitable at this level, especially in Indonesia.
  
  


• Strong Balance Sheet in a Challenging Market:
  
  FPX remains well-capitalized with ~C$30 million in cash, setting it apart from other junior nickel peers.
  
  


• Global Generative JV with Japan's JOGMEC:
  
  Exploration efforts are ongoing to identify additional awaruite-hosted nickel deposits globally. More news expected in the coming weeks.
  
  

Visit FPX Nickel’s website for full technical details and recent news releases.