I think these projects need either strategics (downstream) to do the heavy lifting on financing project, or a consensus long term nickel price of $9-10/lb. I would be surprised to see debt finance on basis of long term cobalt price forecast, alone.
I think downstream partners focus on security/quantity of supply and would need to think long and hard on the capital required per unit output of nickel and cobalt, and the lead time to reach nameplate and whether there are more efficient, faster lead time opportunities out there, and whether partnering with a miner on the ground in the DRC is a better approach. Unless you are a Korean company losing your head.
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I think these projects need either strategics (downstream) to do...
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