Nickel is going absolutely ballistic, page-3

True statement blackey, for the period 31-Dec-18 to 19-Jan-19, LME nickel has increased from $10,590/t to $11,880/t for a gain of 12.2%. However, in the same time period, LME cobalt has decreased from $54,500/t to $34,000/t, for a loss of 37.6%. Both prices need to be considered when valuing Sunrise/CLQ. No?

Assuming Sunrise generates 56.5% of its revenue from nickel and 39.5% of its revenue from cobalt (as per DFS), the weighted average impact of nickel and cobalt price moves over the last month means that the project's revenue generating potential has decreased, in a single month, by approximately 8%. 

The nickel price is encouraging but the cobalt price is destroying that value-add.   

The revenue generating potential has dropped significantly more than 8% if one uses the DFS pricing as the basis.