If NPV is $3B and MC of GME is $76M this technically make GME...

If NPV is $3B and MC of GME is $76M this technically make GME worth about $39 a share :p even after taking into account of the $1B Capex cost. The fact is that if we can secure funding, it doesn't matter have you adjust your variable costs it'll still at least be a 10-20 bagger in a few years time. David Varcoe has used a Ni price of $8.5 and Cobalt of $16 which is 35% below the current Ni market price and 50% under current Cobalt prices, imagine if the current price stays where they are, the NPV would be over $5B. Their operating cost after Cobalt Credits is only $2.37 (amongst the best in the industry) means that if Ni prices does turn, it would have to drop drastically to be unfavorable. I have stress this before, its now all about finding a source of funding, it cannot go on its own. The time of production would probably be early 2012-2013, but if they get taken over or have a J/V with MRE production can be as earliest as late 2009. Getting quiet interested, its still have a long way to go, but at lease the new CEO appears to be determine to optimise the resources in HEPI. Also they are applying for license for their Gold tenements, once its approve GME will be able to tap into their gold tenements.

GL all, lets hope its a start of a U turn.