Below is not financial advice and my personal interpretation only:
UBS reviewed the quarterly yesterday:
They were surprised by recent cashflow. Their estimate was $125m when WSA produced $144m. Albeit, helped by a timing shipment. UBS have estimated that nickel will drop below $6 lb in the second half of 2019.
This goes completely against recent price action.
UBS estimate WSA production costs are $4.60lb. To think two weeks ago, nickel was $5.50lb but now today - $6.70lb.
The cashflow was excellent last quarter. If nickel can maintain this price rise or go higher, obviously WSA is incredibly leveraged and may have caught fundies on the hop.
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- Nickel $5.50lb - $6.70lb rise in two weeks.
Nickel $5.50lb - $6.70lb rise in two weeks.
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