This is wrong, the outlook for nickel is quite good. The outlook...

This is wrong, the outlook for nickel is quite good. The outlook for nickel with 100% offtakes in place is even better. Read the WSA annual released yesterday for the updated and current consensus views on nickel, including the rationale behind that outlook.

What plays into our hands is not just the low cost of production we have compared to peers, but the quality of the nickel produced that makes it far more valuable than the LME spot price fluctuations.

Plenty of money being taken out of commodities, and a lot will be coming back in when it inevitably turns. We are critical mass on many with costs of production unsustainable, leading to eventual shortages. When that money comes back investors and instos will be judicious in what they buy, hence why quality assets and companies will be where the action is.