RE:Chart goes back to 97
Seems like they found a pretty good asset during that time, no? Keep in mind that this period includes a 10 year stretch where nickel was in the dirt and the project was mothballed to preserve cash.
That only ~220M shares are outstanding even though the company has been trading since the 1990s speaks to prudent management, given that there has never been a stock rollback.
They also got 20-30M of development work done by Cliffs, then bought it back for pennies on the dollar.
Where are you seeing red flags?