They would barely be cash flow positive form operating...

They would barely be cash flow positive form operating activities. Add the investing activities (CAPEX etc) and they are most certainly cashflow negative.

Look at huge difference between Dec14 and Dec 15 comparatives.

Also take note that the nickel price between Jul - Dec 15 ranged from peaking at $5.30 to $4.00 by end of the first half.
This half the price started at $4.00 and has pretty much remained under $4 well and truly for the first 3 months of this half.
Going down baby!