I have searched through mre for a formular to calculate their nickel price and since that are not hedged one can only assume they are locked into a take off agreement at 62 percent the current market price of nickel.
Therefore when nickel price falls to 18k per ton they will receive 10k per ton and cost of 6k per ton. Their profits will drop considerably, down to aprox 120 million less tax.
There is also a conflict of interest, glencor their offtake parntner has contol of the company, 52% interest.
Prove me wrong.
I have searched through mre for a formular to calculate their...
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$1.98 |
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Mkt cap ! $299.8M | |||
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