Westmetall shows LME now down at 400.992 http://www.westmetall.de/en/markdaten.php?action=show_table&field=LME_Ni_cash
So we may even crack the 400 mark tonight for the end of the week, over Friday night in Aussie time.
I doubt it will have an immediate effect. 300k would be better!!! However I think it's an important landmark on the way back to a recovery of the Nickel price.
I bought yesterday at 4.7 cents, in modest amounts to suit my modest budget. I was buying at 8 cents two years ago when all Poseidon had was Windarra, and even that was flooded. Of course the Nickel price was higher then, and the company was less diluted, but the LJ and Black Swan assets did transform the company's potential. The SS off take deal gives Pos a definite income stream with even a modest recovery in the Nickel price, which would keep the company alive, and even profitable (omg) while they pursue further exploration at LJ and the staged start up of the other sites when the Ni price recovers further.
I entirely understand why many holders have become sceptical that this will ever happen! It's been an agonising wait. This time last year we were being told that LJ was about to restart etc etc. Watching the Nickel price crash, and having LJ returned to Care and Maintenance - pretty hard to take after the optimism of 2014. However with the stunning fall in the Nickel price they really did have no choice.
My average buy in price is 0.072 and I'm feeling some pain at 0.047 - so people who bought in around 20 cents or more will be feeling it very hard indeed. And yet buying at that level did seem a good bet, at the time. If the Nickel price had stayed up, on the back of the Indo export ban, Pos would almost certainly have been producing by now and worth far more than people were paying for it just ahead of the 18 cent CR.
I know it's "never too late to sell" and we should always be ready to cut our losses and take what we can get - then move on to something better. But I still see Pos as having a very good chance of fulfilling it's promise.
I take all posts with a grain or two of my Himalayan pink salt, but they all make the wait a lot more fun. (No more Easter Bunnies though - please! rofl). And I'm not just "waiting for better days." Today IS a better day. Every day is a better day! I mean - all we ever experience is "today." Everything else is either a memory or a future hope - so enjoy the day you have and make the most of it. Then the next one.....
("Hey - pass me more of that Kool Aid please! Tnx mate..." ) lololol
(20min delay)