Correct me if I am wrong but the falling Nickel price is kind of a good thing for NIC as it means that its biggest shareholder can release itself from its short position for less $. Not sure at what point they actually make $ on the short they have taken but never the less this drop in the price of nickel means stuff all to NIC as what they produce is at best loosely tied to the nickel price but really pricing is based on a NPI price out of China, right ?
NIC share price is tied / restrained by its major shareholder, it clearly is in an incredible growth currently making money doing everything beyond expectation if you read report in the last quarterly. Surely the recent pull back in nickel means more certainty for its largest shareholder and partner ?
If Tsingshan did not have the problem with its short position after the amazingly positive quarterly what would NIC share price be tomorrow ? In my opinion $2.20 to $2.50.
Correct me if I am wrong but the falling Nickel price is kind of...
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Last
82.0¢ |
Change
0.020(2.50%) |
Mkt cap ! $3.503B | |||
| Open | High | Low | Value | Volume |
| 81.5¢ | 82.0¢ | 77.5¢ | $5.644M | 7.050M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 52 | 200396 | 81.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 82.0¢ | 116377 | 41 |
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| Last trade - 14.06pm 04/07/2024 (20 minute delay) ? |
| NIC (ASX) Chart |