Not just today! Its down about 25% since mid January.
Why? I wish I knew.
A few things perhaps:
The report of a first half loss still filtering through.
Maybe the manpower shortages that affected production in Dec quarter are ongoing.Maybe other contractor problems.
Continued strength of the AU$ and perhaps more fx losses.
No exploration announcements for Ni - is there nothing to announce or nothing worth announcing?
No update on Tottenham. The mid Feb announcement had results for 2 of the three holes, one with a little and one with a lot. Why haven't we seen the third? Perhaps just a little Cu?
Ni is down about 8% in just the last couple of days. If costs are high and production low, a low Ni price is going to be more damaging to MCR than other companies.
I worry most about the onset of GFC II. Is this an early sign of it coming> Or just some unease in the middle east? As much as I like MCR, I would much rather bail at $1.50 than wait for it recover from 65 cents again. If GFC II hits, I think the bounce back will be a lot longer coming.
Not just today! Its down about 25% since mid January.Why? I wish...
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