Yeah, you are right. Definitely related. The low in the nickel price came about through Indonesian supply dominance, which forced the hand of Wyloo, which had consequences for BHP-Kambalda Conc, and now LM8 needs another processing route if looking to make a start in the next couple of years. I dunno how long the expected downturn in nickel prices is forecast to last, but i guarantee that Wyloo, IGO, BHP, FQM etc don't take these strong actions for a short-term hiccup. I would think we are talking two years.
This article is a tough read. Just as nickel was getting some steam up too.
https://www.abc.net.au/news/2024-02-15/bhp-considers-closure-of-nickel-west-which-employ-thousands/103470322
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2 | 69951 | 0.145 |
1 | 100000 | 0.140 |
1 | 20000 | 0.130 |
2 | 255500 | 0.120 |
Price($) | Vol. | No. |
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0.160 | 15000 | 1 |
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