If you take a look at all the nickel stocks, they have all have been strong of late.However, i believe MRE has lagged the gains by MCR,MBN,PAN just to name a few.In fact, MRE is still at 2004 levels.
MRE has higher costs this is true but they did a capital raising back in October, have zero debt and are currently cash flow positive.If Ni prices hold around US$9.00lb, MRE is sure to be re-rated and i can see 1.50-2.00 very soon imo.
