Breaking: First Quantum Minerals' Ravenswood Ni ops finally succumbs. (Previously stopped mining to only process stockpiled ROM ore (as a cost-saving measure) but now will enter full C&M.)
https://www.abc.net.au/news/2024-04-29/ravensthorpe-nickel-mine-to-close/103781186
https://www.watoday.com.au/national/western-australia/wa-job-losses-330-more-nickel-jobs-go-this-time-at-ravensthorpe-20240429-p5fnel.html
The next major shoe to drop: BHP's NW by ~Aug. Shuttered WA Ni ops are unlikely to restart before the end of this decade (or longer) as Indo Ni supply continues to ramp-up which will hobble any incentive restart pricing, thus effectively capturing more int'l market share. (Banned Russian supplies will feed China (domestically) which, in turn, will increase its exports of refined Ni (sourced from Indo) to feed the West. A Near zero-sum-game in big picture int'l Ni supply/pricing terms.)
The WA Ni rout continues.
POS' quarterly due out by tomorrow. Expecting low-$2M (+/-) EOQ cash on hand, incl. MIN's $1M sign-on payment. Hopefully enough to squeeze through until LJ settlement and receipt of the next $6.5M to fund the next (heavily-curtailed) 12-month burn.
Breaking: First Quantum Minerals' Ravenswood Ni ops finally...
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