There are some things to take note of from the quarterly which...

There are some things to take note of from the quarterly which were released at the PFS announcement.
The PFS shows that the Cash Operation Cost is US$4.42/lb and long term nickel price is around US$7 - 8 /lb so that is a big positive and in the lower quartile of nickel producer figures. Also that Vale only considered 4 of the 14 deposits yet a 34 year mine life at 36,000 tpa . This means that with further development of the other 10 could extend this mine life significantly. Bulong would add even more and possibly reduce the cash costs again.

Norilsk and Xstrata are also aggressive accumulators of nickel mines. I think that Vale would not want to let this opportunity go and they will be thinking many years ahead, not just the current GFC. Historically growth after recession is faster that before recession so Nickel is a key in that story.

Keep accumulating - one day soon we will be very happy
Rockford