Nickel $5.50lb - $6.70lb rise in two weeks.

Below is not financial advice and my personal interpretation only:

UBS reviewed the quarterly yesterday:

They were surprised by recent cashflow. Their estimate was $125m when WSA produced $144m. Albeit, helped by a timing shipment. UBS have estimated that nickel will drop below $6 lb in the second half of 2019.

This goes completely against recent price action.

UBS estimate WSA production costs are $4.60lb. To think two weeks ago, nickel was $5.50lb but now today - $6.70lb.

The cashflow was excellent last quarter. If nickel can maintain this price rise or go higher, obviously WSA is incredibly leveraged and may have caught fundies on the hop.