Nickel and cobalt prices in the PFS were above current market, particularly cobalt.
If you evaluate it on that then it’s fair to question ability to finance.
Personally I am in agreement with management and the future forecasts of demand and supply pushing prices indeed above PFS, it would appear our prospective partners who have a next level understanding of the market agree.
There is a wealth of information about the future nickel/cobalt supply demand dynamic and the ESG geopolitical influence’s at play, as one CEO in article I read stated “much of the current supply won’t qualify it may as well be a different metal”. Of course this it’s each to their own as to how they interpret and how confident they are to invest.
I have continued to accumulate and having watched the buy/sell closely there is definitely bots at play you can often see exact buy and sell volumes on multiple lines each side and all the other usual games.I think a lot of the volume is churn and really not much genuine on the sell side below 75 cents. With approximately 50% held by top 20 and low volume of shares on offer as others have mentioned it’s tightly held but when it breaks it runs hard if you look back at last years nickel short squeeze event you can see that.
The hope is JV and DFS scope is agreed on this quarter and perhaps some off takes, all being well as the DFS progresses and info released to market we see nickel/cobalt prices recover and EV sales progress.
At some stage SP will break, god knows when so I’m buying now and waiting excited and patient.
