Actually on the current pon I’d say slightly overvalued, however many of us are expecting an improved pon over coming years, and expecting further discoveries, the later of which you certainly wouldn’t prudently put in your valuation atm.
I agree it’s well managed, but then I am biased, as a holder who wouldn’t otherwise be holding it. Would be happy to pick up a few more for the long haul below about 260. Will review that after the QR and the HY of course.
A decent dip in the pon might yet present the topping up opportunity I am looking for.
I am back in nickel for the 5 to 10 plus year horizon, when I expect the battery demand to really put pressure on nickel supply. Longer than that who knows what battery chemistries might emerge.
EL
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