I agree your point re cost of doing business in Aust, but when...

I agree your point re cost of doing business in Aust, but when your SS price assumptions are stated as Ni $24,000 / t, and Pd 2,000 / t then the price falls of these metals becomes part of the problem for CHN, and contribute to the SP declines! The SS NPV Sensitivity charts contemplate a 25% +/- move around these prices and Ni and Pd have moved some way below that, pushing NPV beyond (below) the low end of the NPV ranges! I do get that lower cost mines and locations (eg Zim / SA) drive these metal prices but the charts do also show that recent prices have been above those used in the CHN modelling. Recent metals price moves have made the CHN modelling look unrealistic - but time and S&D situation can change that over the next few years. The rest of the Mining Industry faces the same cost of doing business challenges, but so far this has not eroded all the value of Degrey as a comparison! GLTA