"however at much lower prices lots of mines become unprofitable...

"however at much lower prices lots of mines become unprofitable and will shut down or suspend production."

Given MRE has one of the higher marginal costs of production out of all the nickel producers, dont you think it's possible that it may be one of the that could be forced to shut down? Throw on top of this its terrible produciton track record. Im not saying this is going to happen, but if costs > revenues, business model = stinkfest.

economics 201.

With nickel trading at circa $US20,000 a tonne, its profitability is very much in question. Hence the dramatic sell off. Stocks dont just fall 80% for no reason. The market is telling you something.

The cost of the mine is irrelevant. Its the profitability of the mine which counts.

Sure if nickel prices go up MRE will follow. But nickel prices would want to get moving and moving pretty quickly.