Yeah, you are right. Definitely related. The low in the nickel price came about through Indonesian supply dominance, which forced the hand of Wyloo, which had consequences for BHP-Kambalda Conc, and now LM8 needs another processing route if looking to make a start in the next couple of years. I dunno how long the expected downturn in nickel prices is forecast to last, but i guarantee that Wyloo, IGO, BHP, FQM etc don't take these strong actions for a short-term hiccup. I would think we are talking two years.
This article is a tough read. Just as nickel was getting some steam up too.
https://www.abc.net.au/news/2024-02-15/bhp-considers-closure-of-nickel-west-which-employ-thousands/103470322
Yeah, you are right. Definitely related. The low in the nickel...
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Last
22.5¢ |
Change
-0.020(8.16%) |
Mkt cap ! $49.01M | |||
| Open | High | Low | Value | Volume |
| 24.0¢ | 24.0¢ | 21.5¢ | $82.33K | 366.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 356 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 25.0¢ | 175000 | 1 |
View Market Depth
| Last trade - 14.47pm 07/06/2024 (20 minute delay) ? |
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Last
22.5¢ |
Change
-0.020 ( 6.25 %) |
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| Open | High | Low | Volume | ||
| 22.5¢ | 23.0¢ | 21.5¢ | 136330 | ||
| Last updated 13.44pm 07/06/2024 ? | |||||
| LM8 (ASX) Chart |