Yes production is good news.
But market I'm guessing didn't like the costs galloping higher such that EBITA was marginally worse than prior quarter, despite strong Nickel price. Chinese NPI also underperformed LME price significantly which you can see on the chart they have in the presentation.
Given higher costs and investment pipeline, leaving dividend at 2cps probably prudent. It should still move higher as Angel moves into production in H1 of this year.
Overall I'm still positive. Wait for that juicy divvy check in a couple of weeks
Ann: Quarterly Activities Report, page-9
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