Don't equate the possibility of shutting operations down due to low nickel prices as us throwing in the towel and our share value plummeting to $0. Management is hired to make the right decisions to make us profitable both in the short term and long term. If in the short term profitability looks unlikely, then the wise choice is to suspect operations until at such point we can be profitable. If that decision is made early enough, then we preserve the working capital we need to fund those expenses which will still be incurred during shut down, then once nickel prices are again favourable, we start back up and carry on with profitable operations.

With nickel at $9, we won't make much in the way of profits, but we will still generate ample cash, and at this point cash is the most important thing. Our share price won't go up much as a result, but the precious cash we reap from our production will be what we need to fund a shut down decision or future development, depending on how nickel prices move over the next 6-12 months.

I can't really say where our shut-down point would be until we see some financial results after we reach full production, but I imagine it'll be in the $6-$8 range. I am also expecting our true cost of production to be higher than estimates provided to date, as management seems adept at lowballing figures and estimates and disappointing us later.

It sucks, but it is what it is. Junior mining is risky business and commodity markets can be cruel at times. But I do believe we're positioned well enough to weather this for at least a while. The other junior explorers around us, however, are going to have a hell of a time raising additional capital to fund exploration.