I think you would be mad to sell at these prices if you didn't have to. The nickel price won't be where it is for too much longer and they are forecasting a bit of an uptick later this year. Just need to flush out this Indonesian oversupply but the US has said they won't buy Indonesian nickel and it won't be long before other countries follow suit. So in the end you still have a mine with an NPV of circa $3.3 billion that produces huge profits for 50 years and it is currently trading at $25 million? Even for someone to come along and buy the project it is still worth $1/share....and that would be cheap.
Definitely some short term pain but in the long run I think NC1 will recover nicely.
NC1 Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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