When Jinchuan and others have many of these mines coming online...

When Jinchuan and others have many of these mines coming online next year. They (Jinchuan) buy direct through offtake agreements and in some cases take a stake in the company.

This is all good stuff however you must remember that this nickel does not go through the LME. It goes direct to the likes of Jinchuan.

Where once these companies bought Nickel through the LME , instead buy direct.

This will cause the nickel stockpile to increase in the LME and in doing so drive down price.

And where does AGM draw its sell price? From the LME.

This could have a major effect on share price and profilability of these companies. And for the likes of Jinchuan it is a perfect game of cards as it is a win , win situation for them. The lower the nickel price , the bigger the profit for Jinchuan and what agm make is a bonus.

All i think shareholders should realise is that most of the profit in this company will be in the next 3-6 months. After that I think you will find nickel prices drop and stockpiles grow to a 100000+ at LME.

This is why some new start up nickel producers are hedging as low as $11lb.

The chinese , well all you can say is well played.