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Hi Michael,I think the PON you have attached could have been the...

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Leo_m1958

674 Posts.

194

17/05/22

11:22

Post #: 61449865
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Originally posted by michaelhaley: ↑

Thanks cc,

I think there might be a bit more hurt yet as Nickel price is on it's way down and directly affects company.

Company is solid but unfortunately unless Nickel price spikes and holds for the rest of month 4th shipment will be significantly less than 3rd which market generally doesn't like.

It's a shame that potential SP rebound has been squashed with lowering Nickel prices. Not great timing but hopefully just short term hurt.

There seems to be alot of uncertainty in the market, ASX is watching and reacting off US market which is currently seeing volatility.

Fear and greed index is a interesting tool for those that haven't seen it.

https://edition.cnn.com/markets/fear-and-greed

On a brighter note - It could be worse

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Hi Michael,

I think the PON you have attached could have been the low of yesterday trading session, PON closed at $26,715USD on the LME.

Another important point, when the PON was $33,500USD FX was $0.75 = $44,666AUD

VS

$26,715USD FX $0.69 = $38,717AUD.

While nickel has fallen about 21% it represents about a 13% difference when FX factored into the price.

Also, we can hope now as China restrictions start coming off (which has hit commodity demand) the PON should recover.

PAN Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
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