Seems like a couple of main sellers have an edless supply around the $2 mark. Surely with these volumes this must dry up shortly. Predicting operating surplus of 44 mill for this quarter based on 3600 tons and unhedged nickel @$14.5 exchange rate 77.5 Gives a cool $82 mill for the half compared to previous full year of $69 mill. Allow $20 m for depreciation exploration etc and 28% tax we have a half year profit of $44 mill. Look foward to reduced hedging after December increased pdn when Carnilya comes in (why dont they just start now- the nickel on the way will pay for development) and then some results from regional exploration. Foward pe under 5 and pentyof blue sky shes gotta be worth $3 sooner or later
MCR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
