I accidentally came across recent First Quantum results.
Just for what is worth and sake of discussion, they apparently project costs at US$ 17600/t for 2022 (Page 10)
Also on page 35 there is a note saying:
Nickel unit cost guidance above does not include
Enterprise. By 2024, C1 cost at Enterprise is expected to
range from $4.25/lb to $5.25/lb.
Not sure what it refers to.....
Further more on page 41 a reconciliation of operation showing cash costa for Nickle production at US$ 25300/t
Finally on the following page a price rate including hedge for 2021 at 19000/t.
They do pay tax at 25/30%.
This make you appreciate how well positioned and undervalued is Nickel Mines compared to peers.
I appreciate that First Quantum is mainly a copper producer, but hey they currently command at PE at 22 on last quarter projected multiples x4 and a PE at 30 on 2021 results.
Just wondering if will Nic PE will increased together with larger prod/operation comes 2023/24.
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