Stock Levels, page-39

YEP....after solid research I do think this stock is currently worth $1.60 if the current fundamentals prevail.
I also believe the macro environment China's PMI, nickel stock piles and the general weakness in commodities all point to a further deterioration of fundamentals.
As I have stated I started to research this stock as part of looking into a future balanced commodities portfolio. I think nickel has a role to play in this portfolio.
It also got my attention because of the dramatic fall in SP as often quality shares, that still have good fundamentals, get dragged down with the broader market.
However after researching this stock it appears to me that the fall in SP is fully justified and based on my research it could go a lot lower.
Like I have said really like the business but don't think the current fundamentals and outlook justify the current SP.
Happy to here others points of view on why they think my $1.60 valuation could be wrong.