Cab, I agree focus (pardon the pun) has to be on upgrades but Mgmt did say at AGM that Q4 would see some work commence at Nepean. I winced a bit when I heard that, but Ni price has come up 70-80% since the low of last year - even though still more than 70% off its high... and LME stockpiles still v high.
Maybe it comes down to a bet on China?
I certainly wouldn't want Nepean to distract mgmt from Au but I wouldn't want $$$ sitting on the balance sheet doing nothing either. Peter Williams has done his job with 3MH - send him to Nepean now???
And wouldn't it be nice to have an extra string to the bow?
Cheers,
C12
Cab, I agree focus (pardon the pun) has to be on upgrades but...
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