Dear Rustaf,MRE has the potential to rise again, simply when/if...

Dear Rustaf,
MRE has the potential to rise again, simply when/if the Ni price starts to rise again. So keep on checking the LME prices mate, they are the only guide you need, along with some forex checks.
MRE are totally unhedged both Ni/Co sales and currency.

The recent modest rises and the (I think temporary) fall in the AUD are positive for MRE.

The main concern is that MRE are in the top quartile for costs of production amongst their peers. That means they hurt the most when prices drop and gain the least when they rise. This is a cold hard fact.
The recent slashing and burning program, whilst necessary for MRE short term survival, has done IMHO irrepairable damage to their longer term ability to capitilise on any recovery in the Ni price. A huge amount of expertise and ability has been lost on site and this will come back to hurt them in the future.
As well, expansion plans have been suspended which will curtail future earnings. Of course they can be restarted but competent people are the one thing that no company can replace in the current environment, unless they start to pay big dollars.
Current operations are steady as she goes, but there have ALWAYS been challenges and problems at the MRE plant, and there ALWAYS will be.