There's too many variables for such certainty. Correspondence is not causality. Nice theory though. And stocks don't react, people do. Why would so many investors watch and react to intraday price movements of nickel against a company that is promising to deliver cobalt in a time of its growing scarcity (not to mention scandium)? The success of the Syerston project, and CLQ in general, will not depend directly on the microvolatility of the nickel price, imo.
Maybe something to do with an annual report being issued was used by some people to exit? And then others bought into the weakness? Apologies for overthinking...
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