it would be wise if they didn't pay one.[[ a dividend ]]. Why...because of their diminished financial circumstances...occasioned by 'multi year lows in nickel markets'[[ MD's words] That is not the impression I gleaned from the MD and his CFO in today's webinar. In fact my take is of a company in rude financial health. Quite what justified the '"únfortunate' non cash US$205m impairment at the coninuing to be profitable HNI and RNI operations with a possible clouded outlook at current prices .... I cant answer. Keep the lenders onside with a diminished dividend and a DRP supported by 53% of the issued capital? I am very encouraged by the MD who is bringing forward delivery expectations for the big profit driver the ENC project and is restating- with evident conviction- his forecast of US$1bn in EBITDA in '2 to 3 years'. For mine I'm betting on that run rate by XMAS 2026 . I'm also intrigued at the MDs willingness to consider additional resource acquisitions . To take them to become 'the largest holder of global nickel resources'. That's a sign of a company in rude health.
NIC Price at posting:
76.0¢ Sentiment: Buy Disclosure: Held
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