Shanghai was the reference price in PFS.
exchange rate was .78
Shanghai nickel currently 17,8300/t. Convert to pounds, add sulphate premium and add 15% to adjust for currency which is now .675 or so and nickel price is more like 10+/lb.
on PFS, nickel was 2/3rds of revenue, cobalt 1/3rd, so once you boost today's cobalt price using the currency adjustment, current prices have pretty much no net impact on our revenue.
Pertinent market/industry news/articles, page-1959
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