clq price drop, page-89

the PFS released last year had an NPV of US $891m

the study had priced Nickel sulphate according to broker consensus of $7.50/lb
(I remember this because the Share price sold off after that because at the time nickel was trading at around $4.50 or thereabouts)

now we are at nickel $6.93, with the sulphate attracting a 20% premium, implying that the study had actually underestimated nickel costs, as the sulphate would sell for around $8.30/lb

now lets move to cobalt, the study had used $12.50/lb, whereas today's spot is now $41.50/lb

importantly, the company has since planned to modify its mining license in order to  ramp up planned cobalt production in early years, and have sought mining approval for this amendment (if anybody knows the status it would be appreciated?)

from announcement released May 2017...
''The objective of this exercise is to determine the extent to which cobalt production can be increased in the early years of operation within the existing planned 2.5 million tonnes per annum ore throughput rate.
A further modification to the Development Consent has been sought (Modification 4) to allow for the potential increase in metal production as well as for a range of factors including the increased consumption of certain reagents that may be required at a higher rate of cobalt sulphate production in earlier years of the mine’s operation''

- both nickel and cobalt spot well above that used in pre feasibility study
- seeking to ramp up cobalt production (where much lower prices were assumed relative to cobalt spot)

from the research i've gathered, I would be surprised if this bankable feasibility study doesn't blow minds.