Cashed up haven't you read any of the recent company spruiking? They have done most of the de-watering and they're advising that their cash costs will be around the $3.30 mark which is hardly marginal when you compare them to other oz producers and they also have the largest nickel resource of any nickel exploration company in oz. If they were in production at the noted cash costs I am sure the market would be looking favourably at them instead here we are waiting for them to provide details of a DFS which should've been done months ago.
I agree the whole nickel sector is under pressure with the current LME price but, managements decision to go down the path of this recent rights issue is the main catalyst to why the shareprice is languishing where it is. I for one am sick and tired of seeing the same glossy presentations being announced by the company and the constant delays to critical announcements which may be positive for the company.
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