not without additional risk as the grade is on the, page-33

Some good points Goyco.

imo the reasons for the move this year have been:

1. The Ni price
2. More awareness of AGM (shouldn't underestimate the impact of news articles that punters read and the fact that AGM is now a $470m mkt cap company)
3. No f*ckups/bad news yet

The important point about the Ni price is that it is really the spot and 3 month forward Ni prices that have gone nuts - 15 month Ni price is only just above where it was trading at in mid Dec last year. So the curve has just steepened more (backwardation has become more severe). AGM has no way of capitalising on strong spot prices, though clearly the producers do...