Nic Share Price, page-3

One point to make on Nic sp is what will be its multiple of Net profit...PE.
Many consensus here on 2023 profit of AU$ 1bill, it all depends on Nickle price and production but the trend look very bullish..
My point is right now Nic is priced at PE 16 on 2021 net profit.
Possibly some Angel project production is already priced in, but also we reached near AU$1.80 sp with Ni price rising, Ni price is still high but not Nic share price, which is one third lower.
I believe the market is failing to price in recent Ni price increase and/or, the fact that Tsingshan issue with short squeeze is unmaterial for Nic.
In short I would say that a PE multiple higher than 12 is a fair valuation in 12/18 months, for a company producing 100000/t Ni from multiple operations, who knows what will be Ni price by end of 2022 and its effect on sp going forward, given current trend and including Volkswagen moving in Indonesia.
Mind you I am not talking about factors that have still to materialize. These are real events occurring right now but that have failed to be priced in the sp.
AU$ 4 sp or higher sometime in 2023, is a real possibility, I would add more if wasn't because Nic is already 45% of my portfolio.