To save writing another post elsewhere I’ll start by touching on...

To save writing another post elsewhere I’ll start by touching on BHP’s recent write down based largely on the performance of its nickel unit. My information is that their production costs are around the same as the current nickel price. In other words close to 3 times our projected costs.

To the more anticipated news for us in ARL?

Others have touched on ( in really helpful ways ), much of what I’ll write but sometimes it’s helpful for readers to see what each of the active posters is thinking.

A new week & do we get an update this week? I’d lean toward yes, going by the language in the update announcement from December 21:

https://ardearesources.com.au/downloads/announcements/arl_2023122101.pdf

That’s based on the last sentence of page 2:
’Additional updates will be provided as Ardea, and the Consortium advance their collaboration on the KNP Goongarrie hub and on the final outcome of the Consortium’s due diligence’.

The updating of Australia’s critical mineral list to include nickel probably won’t have changed anything much for the Japanese side as they ( and Ardea ), probably won’t pin their hopes on any meaningful Aussie government participation but it is surely extra peace of mind for the Consortium in that the regulatory environment is now at least as, if not slightly more, friendly to nickel mining projects as it was when negotiations began last year.

The other reason I’d lean towards an update is that ( in my understanding ), continual disclosure rules demand anything that can be reasonably be expected to impact share price must be shared with the market in a timely manner & the Consortium’s position surely qualifies as such.

My guess is that the Consortium is staying. After all why wait until the very last days to make the decision when months of work ( due diligence ), have been put in? As of now we are about 72hrs out from the previously announced date.

We also see that defining the scope of the DFS and the awarding of contracts is expected to be completed by the 29th ( page 1 of the same announcement ). Remembering the note about this being a great time to be hiring ( nickel market at a low & some mines closing ), it’s hard to argue against pursuing experienced and skilled people/teams now. Get the best we can as they’ve just come off other projects because those are the people/teams that don’t stay on the bench for long?

That’s about it so all we can do now is wait and see what happens later this week. For the chart watchers- wow, the buy vs sell would look a bit different without that 300,000~ order at 61 cents!