RE:Is GIGA dead ?
Short answer: its not. Longer answer: $GIGA has 4 billion lbs of nickel and 250 million lbs of measured & indicated cobalt in the ground, this number will further increase soon, following last years drill program. One of very few class 1 nickel assets of this size. Yes Giga Metals is an #Nickel & #Cobalt optionality play at this stage, but the leverage is ridiculously high and at $8M, the market cap is ridiculously low. It is increasingly clear that cost-wise $GIGA will compete very well with the giant HPAL projects that are necessary to bring online in the coming years. For example, Tsingshans Indonesian HPAL project is already behind their initially communicated startup schedule. While cobalt seems to have bottomed out now, sufficiently increasing Class 1 nickel supplies is going to demand way higher nickel prices long term. Also, it has already been communicated by $KBLT that $GIGA should be able to rework the Turnagain project to reduce initial CAPEX by close to 50% compared to their 2011 PEA. Furthermore, with LME nickel stocks being drawn down at the current rapid pace, continuous insider buying and with the patient support of billionaire(s), it looks to me that the company's upside far outweighs the downside at this stage. All in all, I think GIGA will soon be in the money with one of the worlds largest class 1 nickel/cobalt assets.