I Quote "Dont forget its one of the biggest high quality nickel plays on the planet as some have suggested." bladder
The Ore Body Its shallow Saprolitic clay with some smectite slop. it wouldnt suprise me if the mining schedule has compromised the mine life. In other words 10 years of being in crises may mean the best of the ore bodies have already been raided.
It requires 1.5 Billion Dollars in complex plant to produce any Product. It is a huge consumer of energy. This augers poorly for carbon reduction
To my knowledge it has never Produced Nickel to original design capacity.
The Operation is hemoraging cash. Its not a capital raising, its actually a last gasp action to secure ongoing operational expenditure.
MRE Price at posting:
34.0¢ Sentiment: None Disclosure: Not Held