ARL 4.00% 52.0¢ ardea resources limited

folks our Nickel revenue is 2x our cobalt revenue. So something...

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    folks our Nickel revenue is 2x our cobalt revenue. So something to bear in mind, if Nickel moves 10% above our pfs assumptions, cobalt can be 20% below our bfs assumptions, and it doesn't affect our financials. Nickel moves 20% up, cobalt can move 40% down. And so on.

    Squash: Not the right way to think about it, IMO. To say nickel revenue is 2X cobalt revenue is completely dependent on prices. There was a time not too far ago that nickel and cobalt revenue would be about equal. As the prices of these two commodities change, the relative values change. The right way to interpret it, IMO, is Ardea will produce 8X more nickel than cobalt, by weight. So every $1 increase in nickel price will neutralize an $8 decrease in cobalt price, and every $8 increase in cobalt price will neutralize a $1 decrease in nickel price. Of course what we are all counting on is they both go up significantly for bonanza times.
    Last edited by ebner: 21/03/19
 
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