What's Next Is Not What Counts - But What Comes After Perhaps this is what has caused the PEA delay.
We all expect the PEA to be stellar or we would not be here on this board. But after the PEA, estimated by Kaiser to have a 4-month lead time, there will be little excuse not to jump into PFS and permitting. And this will either drive FPX back into the market for anothe $10M, possibly at a low share price, or they will be forced to dilute in some other fashion such as a streaming deal.
If they pull the trigger on the PEA today and it is delivered in September, the summer vacation doldrums will barely be over. And the share price will likely have drifted only sideways in the interim. Even the recent runup in the price of nickel has not really helped much. The share price is sliding backwards slightly.
Could it be that fear has them frozen in the headlights and they are hoping that the price of nickel will run yet higher before they make any move?