First Nickel Inc. FNKLF

Weathering the storm

[mcugly]

With this restructuring the company can continue to operate and stave off bankruptcy until the price of nickel recovers. As long as they continue to produce nickel as per their projections, there should be sufficient cash flow to weather the storm. JMHO

[Bankorruptsee]

Who gives a shoot if they can "continue to operate". Once my capital is gone, I could care less if they operate or fall in the river. In fact, now that they have screwed all the shareholders over, they can go to **LL.    

[mcugly]

The only ways your capital can be gone  are if you sell or the company no longer continues to operate. So if they fall into the river you are up the creek without the proverbial paddle. As long as they continue to operate without bankruptcy protection, you still have hope and your capital is still alive. Be positive that they can turn things around and improve shareholder value. Otherwise

[charbsey]

 i work in a Nickel mine ..   may lose my job soon our mine have had hard times at 11 $ per pound look now 7 ish  ... Nickel price is bad !!!   look at liberty mine in timmins... shut down ..   A wise person who run's the joint " thinks ...  why dont i wait until the price of nickel goes back up ?    i

[mcugly]

With the price of nickel today at $7.28/lb a lot of the nickel mining companies will start cutting production. Nickel inventories are extremely high and demand is just not there. It would not surprise me to see a lot of the Jrs. including First Nickel suspend operations until the nickel price recovers. The last time FNI put the mine on care and maintenance the price hovered around $.04. Now that

[caddyman2001]

If I read the reports right ,there is 5 million in executive pay,and almost 1 million in stock based compensation,,,that six million is what is killing the place. High priced suits that do nothing to add to the value of the company,they spent millions on the other projects, now they say that they are worth nothing. FNI has a unique situation wherein everything they can deliver is bought at a given

[Bankorruptsee]

You got it! Suits... useless eaters. For the most part, you could put a barrel of monkeys in their place and the same outcome.

[Bankorruptsee]

They should pitch the nickel. There's no room in the market for it. It will be many years before the market can absorb what FNI is producing. They should concentrate on other metals. Copper. Lead. Get out of nickel. Renema the company First Metals. If not, then they should rename the company from First Nickel to Last nickel. Last Nickel, because you can get two shares for your last nickel. Hey

[mcugly]

FNI need not be concerned whether there's room for their nickel (except for the price of course) because once they pass it on to Xtrata, Xtrata assumes all the risks and rewards associated with the nickel (from MD&A on Sedar)

[jfogarty12]

so WHEN is the consolidation ? over 500 million shares outstanding -- just a matter of time before they go 1 for 10 of yours! watch your 200,000 shares become 20,000 and the value cut in half -- they all do it --    

[mcugly]

Why do they all do it? Currently there is no need to consolidate. If consolidation were necessary to maintain their TSX listing or for financing then they would do it. Until those requirements surface there should be no consolidation. Remember that consolidation could hurt all shareholders including the insiders.