Typically what we'll see is an over correction by nickel prices in response to over supply, then as supply begins to be scaled back and inventories deplete, prices will recover somewhat.

What remains to be seen is whether a) we're nearing a bottom for nickel prices and b) what level of recovery we'll see to reach a short term equilibrium.

If we can stay above $9, it should allow Liberty to maintain a small profit or at least break even while at the same time it will force cut backs at many other mines and reduce overall global supply. This should help nickel prices in the future as Liberty gets Hart online.