It is certainly quite interesting that the market is only now...

It is certainly quite interesting that the market is only now recognising the huge demand required for nickel to drive the green energy revolution - A lot of media attention of late covering this very point.

The recent move to $0.17 didn’t appear to have any rationale behind it and driven more by short term sentiment and fear.

The way inventories are also dropping can only suggest that supply is literally skipping the LME and going direct. I also read that China is considering stockpiling nickel.

I am also not convinced that IGO can jump on PAN at a discount, if we have learnt anything with the WSA and OZL offers, it is that management/ board/ shareholders are actually pushing back and seeking those premiums. Ultimately, any proposed scheme offer for PAN will need final shareholder approval and I would assume the big players will be seeking that premium in what looks like a very bright future.