Unless nickel prices rise above $10/lb again by the time we reach full production, this company is toast. We cannot make enough cash at $8.50 nickel to survive--we'll draw down way too much of our loan and the interest servicing cost will sink us. Remember McWatters' lofty $50+ million return at $12.50 nickel? $4/lb less for nickel times 19 million lbs of nickel = $76 million less... thus McWatters has a negative return at $8.50 nickel.

If nickel were still trading at $12-$15/lb, we'd be happily humming to ourselves and waiting for the end of the year when the real money starts rolling in.

I guess we'll see what happens. Everything is riding on nickel prices improving. If they don't... well, we know the result.