There is presently some turmoil in the nickle mining industry, where large companies have invested heavily in large low-grade deposits, and currently are unable to make a profit at present prices. These are mostly laterite deposits, which require expensive processing, with high capital outlay.

Several have put their projects on care-and maintenance.

Some end-users have begun to use chromium instead of nickle, because of the very high prices reached in 07. Guess what? We have chromium too, and at very high grades, requiring no processing (except mechanical sorting and sizing).

Not has high nickle grades, with (I think) more easily processable ore, so much better returns for a lesser outlay. It seems likely, in view of the deeper finds at E1, that there is a large enough deposit to justify a mine

So it seems the silver lining in the dark cloud over the nickel market is showing in the ROF.