Overall a better quarterly than June now it depends on how the...

Overall a better quarterly than June now it depends on how the market sees it.

The September quarter saw another period of consistent nickel metal production with 10,113.3 tonnes produced across the Hengjaya and Ranger RKEF projects. The strong financial performance from the RKEF operations was underpinned by strengthening NPI prices which began to gain momentum in late June and continued to date. September quarter realised contract prices increased by 19.4% to US$16,701/t Ni from US$13,991/t Ni in the June quarter. These higher realised prices in the September quarter saw the Company’s RKEF business deliver a 23.2% increase in EBITDA to US$62.6M and a 12.5% increase in revenue to a record US$168.9M.

Cash cost increased due to elevated coal prices but was more or less negligible. Also coal prices have decreased since then by a lot.

Balance Sheet as of now:



Also the December quarterly due January 2022 should be amazing given rising nickel prices and falling coal prices.

The Group’s reported realised price for the quarter of US$16,701/t Ni includes export contracts that were delivered in July but were priced in early June when NPI prices were trading at the significantly lower price of US$14,700/t Ni. The weighted average of contracts signed during the September quarter was US$17,306/t Ni and, as can be seen in the chart above, Chinese NPI prices traded strongly against the LME during the September quarter with all sales contracts signed by the Company since August executed at prices between US$18,000/t