Ann: Gonneville Nickel-Copper-PGE Project Scoping Study, page-909

There is no question that CHN has been skilled and very successful at presenting itself as a tier 1 investment with a high reward, claiming little parallel in today's world. How else would they have been able to obtain many hundreds of millions of dollars of equity with multiple cash raisings over the short space of 2.5 years, even with the latest issue in May at $7.50 per share?
However, the Emperor was not clothed properly, as revealed by the Scoping Study and the market has reacted in a sensible fashion. From now on CHN, will have to prove its claims with soundly based assessments using realistic figures for economic exploitation.
Right now, we are looking ahead to a possible implementation date of 2029 and who can say what the commodity prices or development and operational costs will be by then?
CHN is not the only low grade extensive Ni-Co deposit to have been found and explored in the past few years. Some (outside of Australia) have larger Ni resources and copper as well, but none have PGEs to the extent that CHN has found. The presence of PGE (and Palladium in particular) is what gave the allure to Gonneville of course, because Pd was highly priced at the time of discovery (much higher than gold).
In short, I cannot see CHN gaining much in the near term. Goyder says to give it 6 months - well maybe yes, maybe no.

The quest for partners has fallen into the same morass that CHN is facing in the market, and no doubt for much the same reasons.
Partners will be found if the price is realistic and matches risk-reward expectations, but at what discount for existing shareholders?

CHN has a large cash holding and can use that to improve resource reliability and processing economics. At this stage, probably better to concentrate on the already large resource at Gonneville, rather than trying to expand resources across new deposits. I think that is the company's intent by proceeding with a PFS.