| You're getting a brand new nickel producer, capex spent, with a decade mine life and a safe place in the world, at about 3.5 enterprise value/it's $65m cash flow (using two bucks for the stock, and $6.50 Ni). Plus you know my feeling about these shortage metals, big upside potential. They are also in transition to underground mining at their gold properties, and that's another $20m cash flow, so make it 2.5 x CF. They are small, and perhaps a little under the radar? Fine, that's always been my forte, although not always instant gratification. Or, I guess the market wants to wait for the actual Ni production in the 3rd quarter? I think they will pay up for that wait. From the release, things are progressing nicely. Or have they been skeptical about Ni prices? Nonsense I say, the metal is surging, as it should with only 7,980 MT left above ground. IMHO that's an acute and critical level, and people need to wake up and get their heads of their asses, on these metal shortages. |
