Wildcatter: I would say that we should keep our eye on the prize and ignore the daily gyrations in the stock price. The stock is undervalued imho too. The insiders have said so too. If they didn't they would be selling. The NCIB that took place last year said so as well. Value investing is an interesting strategy, does anyone else see value here? Like a perfect top, nailing a bottom is an art that takes skill to perfect. So many factors to be considered. IMHO

"Intrinsic value?

Cash and equivalents in last financials amounted to about .33 per share. So, at the last trade of .38, you can buy everything else for .05 per shrare. I believe that is about $3,625,000 for everything else.

Using the indicated reserves for L1 and L2North, I calculate about 84,268,000 pounds of nickel, which is about 1.16 pounds per share. If you assume that the .05 per share shown above goes to buy that 1.16 pound of nickel, then you are buying nickel for .04 per pound. Divide that by the current price of nickel at 8.20 and you are buying a pound of nickel in the ground for less than 1/2 of one percent of the current price of nickel.

At a mere 5% of the value of the nickel in the ground, that would be .48 per share, which added to the .33 for the cash would be .81 per share."