RE: Wish and a prayerRockbottom,
So you're suggesting that when SRK said Hart (for example) was economically viable, with projected $87.5 pre-tax cash flow they didn't take into account everything they should have? What on earth are you babbling about? Are you suggesting that your "economics" indicates that $87.5 isn't enough cash flow to cover interest and income tax? You better get a different brand of economics Rockbottom, what you're using doesn't pass the smell test.
In determining pre-tax cash flow, SRK includes all capital, production, administrative costs, except interest and income tax - including mine closure costs. SRK says $87.5 pre-tax on Hart, on that basis, makes it economically viable. Rockbottom says its just plain dumb to say this. So who is most credible? That's the easiest question anyone could ever be asked.
Now as far as the entire economic viability of the company goes, LBE has two more economically viable mines (using SRK's rationale, not Rockbottom's). In this economic viability analysis, there are some cushions involved.
In the existing economically viable mines. There is room for additional mine life extensions - which are extremely profitable - because much of the infrastructure fixed costs have already been expended. SRK covers this with their comment, such as that included in the Hart NI43-101 report:
"The most significant project opportunity is the conversion of Inferred Mineral Resources to the Indicated classification through additional exploration."
Then there is the potential for additional discoveries in some of the prospective areas indentified in the Shaw Dome and in the other LBE properties.
The economic viability was assessed by SRK based on a Nickel price of C$7.78. There is risk if the Ni price declines significantly below that level, but there is also potential for additional cash flow if C$7.78 is exceeded - currently the Ni price is C$10+.
You're right Rockbottom, it's all about economics - but not your whacky brand of economics - real economics. And real economics say LBE has three economically viable mines, and potential beyond the economically viable pre-tax cash flow estimates provided by independent experts.
Hurts, doesn't it Rockbottom.