rough calcs and projections

Revenue= 164 871 000
Nickel in concentrate= 8196 tonnes
Average price achieved= 20,116 $AUD per T = 18.5$USD perT
compared to spot price of 27,000 $USD per T

Operating costs = 14,624 $AUD per T mined.

EPS(before tax)= 22.8 for half year. Expected for full year 45.6 EPS, if they meet same profit.

Apply PE of 8. = $ 3.65 share target unless they achieve higher nickel price.

So if the average price of nickel they achieve goes to 23900 $AUD per tonne, as their hedge contracts expire, then their profit would be:

9239 $AUD per tonne by 8196 = 76 million.

EPS = 38.6 for half. Expected full year 77.2.

Apply PE of 8 = $6.176 share target