Equityma,Quite a speel of nonsense imho. Without getting into...

Equityma,

Quite a speel of nonsense imho. Without getting into the detail, lets look at the conclusion:

”How could the company archive the 22,000 yearly target If the company cannot produce higher quality grade for ni concentrates with the help of the MREP.”

What are you talking about higher grade?

Why can’t you believe in the 22,000 yearly target. They produced 5399 tonnes of Ni in conc, a mere 101 tonnes (or 2%) shy of quarterly target.

Don’t worry about the actual sales, you should understand the company well enough by now to know that that’s all about shipment timings, as indeed the company has said. One they have produced the concentrate you can be assured it will be sold.

As for the new terms, of course they are better, and negotiated on views of the next few years from a perspective formed late last year. Will have nothing to do with events of Jan 2020. We will see the new terms implicitly in the June HY numbers. Perhaps we”ll see earlier in any financials forecast.

Suggest you take another look.

EL