Not many of us left in FCN. Classic situation for a re-rating.My...

Not many of us left in FCN. Classic situation for a re-rating.
My only interest is Collurabbie as there is data here we can kick around.
If Jubilee (Xtrata) had been in the driving seat rather than BHP - mining would have commenced some time ago - there's excellent quality and qualtity NiS ore here with interesting PGE recoveries too.
But that's history and probably just as well with Ni prices where they are. But the deeper the slump, the higher the rebound. Once we see some of the higher cost lateritic operators reaching for their mothballs, price recovery might be sooner rather than later.
Another kicker - BHP might actually need more sulphide ore to keep the Kambalda smelter running at optimum output - Collurabbie could be very useful.
And why wouldn't BHP be running the slide rule over Xtrata right now - it's a snip at $10 million. That would deliver them the Jubilee stake in FCN and for the sake of tidiness - if nothing else - why not digest FCN too.