What is letting things down at the moment is the ore grade is still so low - look at the last 2 quarterlies and you will see that grades have been 75% of forecast at about 0.68% Ni. For costs to come down and income to rise to where they should be grades need to be around 1%. I think the new life of mine plan should shed some light on the true value of this and the cash flows we should expect in the future; if the quarterly is to be believed when it is published it should turn a few heads.
ALB Price at posting:
18.5¢ Sentiment: LT Buy Disclosure: Held
