back over 20 dollars a pound, page-14

Rags,

Pon down sharply again, but imo you are being alarmist.

Sure anyone expecting 20+ USD/lb is going to be very dissapointed, perhaps even those for 15+, and for sure a downside overshot is likely, but when the dust settles I expect mid teens per pound, and at that level hard to pick a bad nickel sulphide producer.

Furthermore that level will maintain very strong demand, and likely be low enough to deter pig iron, and to make the HPAL and heap leach laterite wannabees take a second check.

Nickel is an increasingly essential ingredient of the modern economy, and high margin nickel sulphide deposits valuable real estate. They aren't making more, even if a few more are left to be found.

EL