RE:RE:RE:RE:RE:Magic Ruler You are absolutely right on most of it.
However, to build an HPAL plant +Refinery cost much much more than 750 Millions. Ambatovy cost 8 billions and Goro was 10 billions.
3 billions for the size of Sherritt - only for Ni and Co without the Utilities (Acid/Power/Limestone) is likely the cost.
I also think Q1 results will already lift up the stock price by around 20% (from 0.60$). The reason is the Ni and Co price was awesome during this period compare to Q4.