Yes, when I was looking at investing in Ni stocks, I was looking...

Yes, when I was looking at investing in Ni stocks, I was looking at both BSX and QPM.
I didn't quite like QPM because it doesn't have its own resource and it had to buy Laterite Ni from New Caledonia.

BSX looked better that it had upstream nickel resources and looking to go downstream into NCM811 cathode.
Partners for downstream, good green credentials etc.. Everything seems to be lined up and my mate at Fidelity likes it.

Well, for a time, BSX sp did will, outperform QPM much much more.

How the tables has turned. Partner gone, new Fidelity FM didn't like it and also started selling, partner selling and new partner probably driving hard bargain... and market turned...

sigh... Overall, I still think its a good business model.. and like everything.. sometimes things do go like planned.. sometimes being ambitious comes with risks whilst lower risk low hanging fruits sometimes has advantage. I believe with nickel shortage and the continue demand for EV, BSX will take off.
The question then is the costs to shareholders... If new partners come in demanding the sky and management did not negotiate a good deal, shareholders will be the one who suffer. We can only now wait and see..

Since, most of us are majorily under water, we just have to wait and see.