SP hit all time low for the year while we see wsa, mbn, alb all...

SP hit all time low for the year while we see wsa, mbn, alb all making strong come backs. Fundamentally the company is still the same as last year with the exception of decline in nickel prices. its still have the same project with NPV of +1 billion dollars as the calculation was using a $10 lb nickel price. Its low cost producing so even if we see a dramatic drop in Ni price it'll still be able to make profit unlike high cost miners. The major obstacle is capital, with cash running short again, management needs to quickly find a source of funds quick! Cynics like me belief that someone is driving the SP down to get a better deal when GME goes for more capital injections again.

As Rob said, the recent announcement by MRE vindicates the fact that land in Murrin Murrin is extremely suitable for Heap Leaching otherwise they wouldn't invest more money into this project. Problem being is that this is going to be the first commercial trial of HL, investors is still sceptic with this concept, but once it has proven to be economically viable for MRE then we should see a recovery for GME.

Sally you are correct that GME is no MRE, we got no money, infrastructure or sufficient labor, but this is why the market cap is so undervalue ($70m vs $2.5B). But we are on the same land they are on, with pretty much the same amount of resources. At this price sooner or later someone will see what potential this company can do. We got a new MD and ore stacking is happening this month, and probably by November we will finally see some positive cashflow coming in and this could be the turning point assuming we don't get taken out.

I have done my own calculations, if the plant was already built and that they achieve the goal of 15,000 tpa of nickle the payback period assuming Capital cost of $400m, operation cost of 2.5AUD, price of $10AUD, the payback period will only be 1.5 years, after that we could see some very juicy dividends. But of course its all hypothetical, I continue to hold and will wait for a J/V or a T/O.