NC1 Megathread, page-36

This is from the MetalsX website

Project Studies
Metals X completed a Phase 1 Feasibility Study (+/– 25%) in 2008 which highlighted Wingellina as a robust project, with a minimum 40 year mine life at an average annual production rate of 40,000 tonnes of nickel and 3,000 tonnes of cobalt. The Feasibility Study assumed a nickel price of US$20,000 per tonne nickel, US$40,000 per tonne cobalt and an A$/US$ exchange rate of 0.85, resulting in an estimated NPV(8%) of US$3.4 Billion at a production cost of US$3.34/lb after cobalt credits.The Company has identified 15 potential high-grade, cobalt-nickel conceptual pits with a significant quantity of nickel and cobalt (326,100 tonnes Ni and 25,800 tonnes Co) within the existing Wingellina Mineral Resource and has infill drilled 6 of these pits. Preliminary optimisations of the high-grade cobalt – nickel pits demonstrate potential for a high grade, small scale start-up option for Wingellina.Metallurgical testwork on Wingellina ore was conducted during 2018 for the production of cobalt sulphate and nickel sulphate as feedstock for the battery industry. Leaching of cobalt and nickel was successfully completed. Previous variability testwork indicated that leach recoveries of over 94% for both nickel and cobalt are achievable with acid consumptions of approximately 300kg/t.

And nickel hit $100,000 per tonne so i would say my estimations are way under what they should be.