Banks, which typically finance a project like this would likely want to see put positions (option to sell Ni at a predetermined price) at/around US$20k for the first few years of production to limit their exposure and make sure the company can pay back the loan to the last cent. For that, the Nickel price has to surpass 20k and stay up there for a bit of time. Because CTM plans to produce a type of intermediary (concentrate) product, the details could be somewhat different.
So, before CTM could sort out their financing, the NI price has to recover, till then, it's unlikely the company can start building the plant or the mine unless a large JV partner comes onboard or the project gets sold to a major.
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