BHP's West Musgrave which is a nickel/copper mine with Nickel at...

BHP's West Musgrave which is a nickel/copper mine with Nickel at 0.33% is expected capex around $1.7b.

Say for example we drilled out an MRE of 2mt Ni at say AUD $25k tonne is in ground value AUD $50b.

At 1% in ground value $500m market cap

Of course shares on issue would be much larger to ever get to an MRE of that size and I have used Nickel prices today but this maybe shows what could be possible.

Canada Nickel though is only about $150m market cap and much more advanced and larger.
Interestingly though its share price was about 4 times higher 2 years ago so we do need Nickel to come back into favour or hit some juicy high grades as well. Having said that we are about $20m market cap so a long runway if we do hit good targets.