Nuts Red
Aust has the largest global Ni resources to the lowest production of it
we are the Saudi Arabia of Ni!
Vale has resources in ground, they need to spend $4B building over 5 years to get them out & mill them
Vale Ni production collapsed recently, one big mine shuttered in brasil, many strikes & covid shutdowns/lockdowns, way worse than official figures imho
you are talking chalk & cheese there,
WSA has 600kt of jorc resources at cosmos at 1% av grade but no mine no mill, just like Nova, took.$700M capex debt & 3 years to build it.
MCR has 140kt jorc resources ex-cassini but again no mill or mine near it, in fact no mill or staff camp at all
the LME is an indicator but also THE LARGEST NI stock arbitrage globally other than the black stock russia to china which has clearly depleted dramatically since 2018 forcing china to spend $1T in Indonesia NPI diirty slave 0.2% low low grade mines.
usually the LME goes down the NP goes up,
2020 we saw that crash in LME TO 70kt & NP boomed to 9.50
now lme is higher than that but NP higher meaning either that LME stock is a furphy & doesnt exist or the NP has overshot despite a massive demand boom or the NP was suppressed to demand last 2 years
the former is certain the latter even more certain imho.
if you think dorothy is going to click her red shoes & wish for 2MTpa of Ni ingots out of her derriere next 6 months then you really are living in rainbow unicorn land.
im on the Ark & its as clear as the tsunami i see on the horizon
the Ni flood is real, the supply is smashed, the demand tripling
the Ni BOOM IS HERE imho.
the LME proves it.
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