Hi guys. I think you are all correct. Zeb is right, the Board...

Hi guys.

I think you are all correct. Zeb is right, the Board has been too clever to get caught out by going into print with their position nailed down in any announcement. That said, going back to the last AGM, this is what I noted -:

"... Of course, it is all about the nickel price. The Board essentially stating that a mining start-up was constantly being evaluated and a commencement date was obviously the million dollar question. I believe their view is that a sustained nickel price (again, IMO, sustained means for around 3 months) of between $6 and $6.50..."

Back then, the Board was referencing the May 2017 Silver Swan BFS. The Project Commercial Metrics included a Break Even Price of $4.63USD/lb. The exchange rate AUD:USD of 0.70. The BFS applied an assumption of a nickel price of $6.50USD.

Moving forward to today, I think we should be urging management to get cracking. Surely, notwithstanding the huge price volatility over the past month, there appears to be a price floor of at least $6? More importantly, the strong consensus from forecasters is for significant under-supply (circa >100,000 tonnes annually) and for a rising price.

DYOR. My view remains, Go Hard, Go Early!

Cheers
U