Not as undervalued as they were for sure however at current...

Not as undervalued as they were for sure however at current nickel prices (US$4.90/lb) and the current A$/US$ exchange rate (0.69), the NPV of their project is 86cps. At the current share price, SMY is still trading at a 27% discount! to NPV. There arn't too many nickel stocks out there at the moment that have such fundamentals. It is still a buy in my opinion if you are taking a positive outlook on nickel and a longer term view on the stock. Aquisitions and deals, as you say ACturtle, are also a possiblity.

I think I just convinced myself to buy more....