The Use Of $6 Nickel Is FantasticI forgot to mention that there is a substantial overlap between RE and PEA, in that some assumed market price for the commodity needs to be chosen for both.
This chosen number for market price drives the economic pit outline and is the basis for the term, "pit constrained"
Reading between the lines, we can expect that any new PEA would also use $6 nickel, implying that FPX believes that Baptiste is viable at that price level. And perhaps even lower, given Turenne's conservatism.