Was sceptical about their 7.50 assumption for the Odysseus studies and even fired off a couple of emails to Joe Belladonna about it 1 or 2 years ago, but with the direction of LME stocks for the last few years,this Ni move has solid grounding (and throw in EV's future and Indo rumours). Along with cancelled warrants, trading noise etc, just waiting to see the big company buyers blink and see a big 30 or 40,000 tn LME drawdown in a week.
The comments above are spot on with where the SP was when NI price was at these levels last time.
Does anyone think they will step up some more NI hedging if the price allows to lock in Odysseus metrics more solidly(cheaper finance etc)? With our solid (pretty much perfect actually) production profile over the past few years, we wont be caught in any Sons of Gwalia type scenario.
WSA Price at posting:
$2.20 Sentiment: Buy Disclosure: Held
