Are you for real, your profile says you have been registered with HC since 10/07/2008 & made 56 posts, & yet you ask this question? I smell a windup here ;-)
Anyways, a few points in riposte.
Demand/supply - the price will be that at which buyers & sellers (possibly distressed) can initially be matched. Price over a year ago is largely irrelevant.
ALB suspended near the nadir of one of the most intense bears in living memory. At the time it was virtually priced to go under, & indeed was only saved after suspension. Back in Q1 2009 no-one was buying anything, it was blood all around. Back in Q1 2009 the ALB board had royally ruined the Company, that Board is now restructured.
Ni price at suspension time was in the US$4/lb ballpark. Today we are over US$11. At 4 dollars the Munali mine was loss-making, at 11+ dollars it should be a very profitable enterprise.
The saving of the company by Jinchuan will lead to substantial future dilution. It is, however, likely that Jinchuan holdings will be tightly held & not flood the market.
Markets have recovered a long way since ALB suspension.
Munali mine is now officially re-opened & already looking to ramp up production.
How many other stocks offer such an opportunity to get in so late to the party?
Don't forget we also have the uranium JV's, & an offtake for life-of-mine for Munali with one of the largest Chinese nickel companies. This Company now has a future, back then it did not.
This is a high-Beta stock, it once hit 510 Aussie cents! Hard to believe seeing the current price, but that was only back in May 2008. Incidentally, Ni price then was ~US$11+ (price guesstimated from Kitco 5-year chart)- so similar to today. Factor in a FULL dilution of 4x, price is still a long way north of 3.9c. Of course, global markets have not yet recovered to levels seen in late-May 2008, DJIA is still 1600 points shy of the price on May 30 2008 when the ALB high was hit.
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