RE: GMC statusWhat you heard from me was my understanding "reading btw the lines". They were sufficiently vague to not give any "material information".
Management made no bones about the fact they weren't happy with Washington Group's progress on the FS.
That costs are going up is hardly any surprise since costs across the sector are increasing 20-30% yr. So, based on two years updated numbers, add in about 40-60% escalation, on top of a ~33% plant expansion. That's how I came up with ~100% capex increase. It maybe more or less, but that's the range to look at. The offset is that they will probably be able to use higher "long term" prices in the FS. They used $6.35 Ni and $15 Co for the PFS.
As for share price declining, I doubt it. I think we are the last guys to get the heads up - those in the know were the sellers for the last few months. If it does sell off below $2, it's a strong buy.