chrismanimv your fcf projection are a bit conservative on Ni...

chrisman
imv your fcf projection are a bit conservative on Ni price and production..
Angel should start to contribute to Ni sale and volumes by next quarter, with power generator been built in 4/5 month time and full production possibly by end on the year. So maybe another 15000/t from Angel in 2022, but also maybe costs will be higher due to lower production...
Then Oracle project is at some 40% been build, by end of the year will be 100% for full production in 2023, we know how fast and efficient project execution are with Tsingshan on board and Nic management team.....
But beside productions, the most important factors are Ni price which should average $25000/t going forward and possibly news on battery grade Nickel production.
On the last bit , although I doubt Nic will be involved in any project between Volkswagen and Tsingshan, Volkswagen though will represent and new customer beside china to sell our Ni, this should increase demand and prices.