The Real Trigger Point Is The Price Of NickelSadly, I have concluded that the merits of the Baptiste Deposit, and the Decar Nickel District generally, are not deciding factors in FPX decision-making at this point in time.
Nothing will be put into motion until the price of nickel exceeds some unknown, arbitrary level. The hope at FPX appears to be that this will trigger, or at least permit a runup in the share price.
Unfortuately, because the share price will continue to languish until there is clear evidence that progress will be made, FPX has set up a bit of a chicken-and-egg situation. It will take some courage on the part of management to break free of this impasse.
One other option, which does not rely upon financing the PFS with equity issuance, is to bring a partner on board. This wildcard has likely become more viable with the advent of a "nearly pure" awauite concenrate. I sincerely hope that samples of this concentrate are already in the mail to BASF, Outotec, Direct Nickel, BHP, Sumitomo, and maybe even Sherritt.