It’s hard for me to comment on whether it’s overpriced, underpriced of otherwise without knowing the full details of how much is left to mine, what work needs to be done to get the plant back up and running etc. All details I’m anticipating will be realised if the sale goes ahead next week over a series of announcements.
You raise a good point with the price of nickel having doubled since it’s last sale, however have the costs to run the mine increased too? Do we need a large capital input to get the plant up and running. Then the big question that no one knows with any certainty, how much more can the resource grow with further exploration? That could be where the upside truely comes from.
What I do know for sure though is that I’m happy to have a possible project in play, there looks like there will be a chance for all of us to either back the management team in or exit our positions, something that wasn’t promised not too long ago.
I do raise my eyebrows at the 8pm Friday announcement though, they decided that time strategically and it makes it look rightly or wrongly like that wanted it to slip through with it going mostly unnoticed. It can’t affect the share price while we’re in suspension so they could have released it Monday morning.
Plenty of water to flow under the bridge yet. I like many have more questions than answers at the moment.
