First Nickel Inc. FNKLF

RE: FNI - fair market value + insider holdings?

[threecpx]

I did some more reading, mostly Q1 report trying to ascertain if net earning can come +ve for Q2.

I have more questions than guesses.
1. Why are realized metal prices more than the average spot prices for the period ? $12.24 as state in the report versus $13 (my guestimate) for nickel; copper at $3.07 versus +$3.50 ?

The only guess I can make is that Nickel sale will be the same on status quo production and an increase in copper sales due to higher copper price to date, possibly a 15% increase in sales. The copper pop of additional $221K will not be enough to make earnings to the +ve side of ledger, so Q2 should be -ve again. Just my thought on a quickie calculations.

I looked at the report for Premier ridge. The author definitely placed his caveat up front. One does have to wonder at all the 43-101 business case that all mines will make lots of money until they built and run them. All we see today with high operating cost is that many miners are in the red. I guess they did not have a good enough 43-101 author. The Premier ridge report also low balled the metal prices therefore with today prices that should be a sure thing. I wonder about that also.

The Ni grade is still under 2% (I think) and stated probably at an average 1.38%, so this is not a high grade deposit, I use 2% metric at width exceeding 60 feet for underground mines. Same coment for copper grade. 

One good thing is the deposit is not that deep.

Lots of fluff in the report, iIsay that because I don't understand it all, but is it important anyways ?

Anyways I'll keep an eye on share price and if it gets to 30 centavos it would be a good value historically speaking. wonder if it can go lower ?

Cheers