There has been a mass exodus since last quarterly which I thought was not that bad and didnt warrant the response it got. Yes I was disappointed as i was expecting another bumper one, however even with the costs coming up and the other factors at play they still managed 50m of free cash flow for the qtr. That's not pocket change but some serious cash.
They are trying their hand in the matte market to diversify and with the addition of Angel, doubling capacity next year. IMO, I don't they will just stop at that, I believe they will try to acquire more Ni projects in the years to come. There is potential for them to become a Nickel powerhouse in the years to come.
They have a mou with nearby hpal plant to supply limonite ore which should come online hopefully next year. That will have a huge impact on costs for us and widen our profit margins further.
There is plenty of upside from here. A director who recent bought big after the SP took a hammering also thinks so as they would not have made that transaction on the back of a bleak future outlook.
Im a massive believer in the EV and nickel story and the momentum from both will be unstable in the years to come, IMO. Nic is well positioned to capitialise from this.
These recent price drops have given me opportunities to top up and avg down.
Good luck to all. I know people have different investment strategies, mine has always been long term.
NIC Price at posting:
$1.01 Sentiment: Buy Disclosure: Held
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