Using the logic that Nickel Laterite projects are not economical...

Using the logic that Nickel Laterite projects are not economical to mine and are cost prohibitive to establish, I am presuming that you are seeing a much higher nickel price in future years. With the scarcity of large, high quality Sulphide deposits I do wonder where the nickel supply to meet the future demand will come from if not from the development of Nickel Laterite deposits. With Nickel Laterite accounting for over 70% of the worlds Nickel resources there would appear a looming supply issue on your analysis. Throw into the mix the concern that battery and car manufacturers have voiced about future Cobalt supply, which as you know is the by product of Nickel laterite HPAL operations and there appears to be a looming shortfall of supply in both markets.

My thoughts are that mines like Sunrise and the other Australian mines will be not only be well funded but will be given every advantage from the State and Federal Govts who will see this industry as providing much needed rural employment and also view it as an easy way to push their environmental credentials.

In regards to Laterite HPAL operations I would agree that they have had a mixed track record in the past, but from researching them I have found that when they are established and working well operations like Coral Bay, Ramu and Taganito are cost effective operations especially when the Cobalt market is buoyant providing a valuable by product credit.

One thing I am sure everyone can agree on is that the current share market weakness is not specific to this company and the falls have been mirrored across all the entire sector. Time will tell if the selling was a well placed bet against the Australian industry in general not reaching production or if it was just opportunistic share manipulation, taking advantage of the lag between when a company releases its DFS when they start construction of the project. I suspect the latter so I am comfortable to keep buying at these levels.