This has certainly had a good run over the last week or so. Pity some who were waiting for a pullback have missed out, though there is still upside left as nickel prices seem to be heading up.
The annual report was pretty much as expected, with the 2c div, fully franked, and delivered as the company had indicated.
At the 49c of the last parcel I bought, the 2c div, including franking credits, is 11.66%, an unbelievable return, without the risk usually associated with such a return. Even at the current 72.5c it is a return of 7.88% (inc franking credits), an excellent return for a miner with exploration potential as well as a rich ore body and no debt.
In a low interest rate environment, this could easily go over a dollar, though probably not straight away. The share price will likely fall back a bit after Thursday when it goes ex-div.
If/when nickel cracks $7/lb (US) then the dollar plus is on the cards, especially if the $AUS stays at $.92 or less.
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