Hi everyone,
Do not get fooled by the lower Nickel price and thinking that MCR is overvalued.
You will be pleasantly suprised by the following figures:
Nickel price US$15/lb
production cost US$5/lb
Nickel productin 19000 t/pa
70% smelter cost gives us 13300 t free nickel
13300 t/Ni x US$22000 = Us$292 million
tax 30% = US$204 million
EPS = US$1
PE of say 7 = US$7 per share
Not bad at all with a nickel price of US$15 !!!!!!!
So instead of thinking MCR is a SELL at todays Nickel prices , you are wrong because MCR is a STRONG BUY imho.
good luck and do your own research.
jojo
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