Ann: Syerston Nickel & Cobalt Pre-Feasibility Study Completed-CLQ.AX, page-57

With regard to Ni price quoted in Pre DFS, spoke with Ben Stockdale (CFO) this morning, he said at present the cost of mining Ni Is over US$5-/lb, and that many miners are losing a lot of money extracting at current prices.
CLQ approached at least 20 different analysts for their long term take on Ni prices and henceforth the US$7.50 in the Pre DFS. This price also - "Does not include premiums that are typically paid in the market for battery grade Nickel and Cobalt sulphate". These industry analysts believe that the Ni pricing regime cannot be sustained at current levels, and at some point going forward it will have to move to a price point that is sustainable for miners to make it an economically viable commodity to extract.We all know it is a critical commodity. So it is a long term figure to fit for at least 20 year mine life.
Interesting to note that current Co price is US$12.66 which is higher than price quoted in Pre DFS.
My sense of it is, the market doesn't like the hefty price tag to build the plant; however market was already well aware of price tag, I guess it is a daunting number for some, but I really think management at CLQ believe that it is quite do-able.