With nickel around 5-6 $/lb it barely covers operating costs in Sudbury. Some major capital projects have already been "delayed". The mining and metals business clearly suffers and the price forcasts for next year are pretty gloomy as well. Decreased activities will follow.

The only good thing about this situation is that we should be able to lower costs of things such as fuel, supplies, services and labour in addition to decreased turnaround times in the labs. It is time to be tough on contractors and suppliers. This should allow our cash to go further and speed up the development process.

So if things turn around by the time we get our hits, the timing of the down turn was perfect in terms of conserving cash, possibly take over of other players, and for some of us to load up with even more shares at a very low price.