The initial reaction to todays ann by speculators was pretty standard.Long term investors will see the platform for a major development at Acoje.The reality of nickel laterite processing is a high capex technically difficult operation I applaud the introduction of an experienced co.and accept this is only possible with some dilution. Joint ownership of a pig iron plant and nickel processing operating at very competitive cost structures with cashflow to develop the highly promising PGM/Ni sulphides has huge appeal.I dont know what the market was after- to fund Acoje via debt/shareholder equity without expertise would have been highly risky if not impossible particularly if commodities ease.Note the AQP model for its SA projects. Cheers VAN
