ENK recently posted news stating they have increased their reserve estimate to 590,000 tonnes of nickel, an increase of 35% over their original estimate.
The ore is shallow meaning they plan to extract it using cheap open pit methods, also they have developed a cheap technique of leaching to extract the metal.

BLT (presumably) on hearing this news have increased their stake in ENK to 8.9%.

With Nickel prices currently at approximately $15000/tonne and a market capitalisation of 39Mil surely this company is due for a sharp upward correction?

Does anyone share my opinion?

Don't forget they are doing a placing at 20p as well but after saying that, one or two companies have dropped below their placing price. (e.g. rrr)