I think its because of this statementThe Exploration Target for...

I think its because of this statement

The Exploration Target for the Itapitanga Nickel‐Cobalt Project currently stands at 35‐45Mt at 0.80% to 1.10%nickel, 0.07% to 0.12% cobalt and 18g/t to 30g/t scandium. Centaurus cautions that the potential quantity andgrade of the Exploration Target is conceptual in nature and to date there has been insufficient exploration todefine a JORC compliant Mineral Resource. It is also uncertain if further exploration and resource developmentwork will result in the estimation of a Mineral Resource

I think they need to find a lot more high grade areas before it will even be considered to be worth mining.. 
We must wait another 3-4 weeks to hear about the Salobo West permit from their September quarterly report that was released on the 19th of October. 

Nickel prices are still going down, but so are the inventories 

http://www.kitcometals.com/charts/nickel_historical_large.html

Hope we can get back into the teens soon!