RE:Found out why you are all under waterDoc Jones mentions Canada Nickel in this podcast. He mentions that a serious red flag is that CNC is getting a lot of "Credits" for the Iron Content. The PEA is structured so that Crawford is a glorified iron ore mine, getting a lot of credit for the iron content. Doc Jones specifically mentions that CNC is using a long term iron assumption price of $290USD/ton. Iron Ore barely touched $220/ton and is now $106/ton. He mentions that moves Crawford's NPV from $1.2B to $400-600M.
Factor in the $1.2B Capex, and the assumption that Santa Claus will magically build a steel mill right next door, and he doubts this will ever be built.
A lot of people on CEO.ca have mentioned that Mark's assumption for Iron is using the scrap metal price, not the iron ore price. If you are selling 87 octane gasoline, you need to use the price for 87 octane, not ultral 95 octane!
The reason Doc Jones does analysis like this is he doesn't fall for the "If you don't believe it, call Mark Yourself" that a nameless person likes to use when faced with tough questions.
The Korelin Economics Report (kereport.com)