Canada Nickel Company Inc V.CNC

Glencore to close unprofitable New Caledonian nickel mine

[Leo1965]

More mine closure, good for nickel price!

https://www.reuters.com/markets/commodities/glencore-halt-new-caledonia-nickel-plant-sell-stake-2024-02-12/

[Astraphobia]

Hahaha u see this as bullish indicator

[Leo1965]

Yes, it is a bullish indicator. I think you are new in investing in mining companies. Have you ever heard the cure for low price commodity is low price. Mining is a cyclical business.

[Astraphobia]

Completely agree lol but this is going to take at least a few years to balance this market again.  I. The meantime mines closing down puts more bearish pressure on the chance CNC gets investors anytime soon. 

[CravingProfits]

Hopefully the processing plant(s) changes the economics just enough to keep investors interested in the future possibilities and not today's nickel environment.  Glta...got a few more at $1.40 through Wealthsimple with a buy offer at $1.41. I don't think this would ever happen with my National Bank brokerage. I would have paid the full $1.41 I'm sure through their other affiliated

[Ivorygull]

And maybe moving on over to be part of CNC wink wink, say no more ;) We shall see soon enough I imagine.

[Cobalt]

HaHa you know all these mines will come back online if price gets back up that is alot of over hang for years on nickel

[Leo1965]

I think you forgot that Crawford be in the first quartile of the cost curve.

[Astraphobia]

I would think exsisting mines trump any potential new construction regardless of the speculation 

[Cobalt]

Oh my god spend billions or turn the lights back on LOL

[CravingProfits]

Yep, CNC to become the Indonesian Nickel capital of Ontario, Canada. And then they can  shut down a few more competing nickel mines. Sudbury included.  My pipe dream. lol GLTA