What percentage of the current share price is based on expectation of future production? What percentage is based on current production? The small amount of cash (relative to the potential) that they are generating now will be turned back in to operations.

Until the cash flow (present and future) from operations has a stronger weight on the share price, I do not expect to see a great amount of fluctuation based on daily nickel price movements.

Last May's price spike was massive, and of course it had a huge impact on LBE's share price. Nickel prices were on steroids and as it blew through $20/lb and stocks continued to diminish, a lot of money flooded in to nickel in all its forms. Once nickel turned south, the euphoria ended and the share price quickly fell back down to reality. If nickel prices shot up by 50% again, we'd definitely see LBE follow suit... but small fluctuations aren't going to trigger that.

I appreciate your excitement about LBE and I certainly share your sentiments. I am very bullish about LBE and its time will come soon enough... but a small increase in LME nickel prices is certainly not going to be the catalyst. Once production reaches capacity and LBE evolves further from exploration to production, however, nickel prices will have an increasing impact on share price. There are just too many "ifs" right now to confidently say that LBE will reach its production peak and stay there (in management we trust!). As we remove some of those "ifs" over the coming months, the share price will rise accordingly.