thats very disappointing for WSA,I called 2-3 trading range so...

thats very disappointing for WSA,
I called 2-3 trading range so now its midrange but may head back to 2.00 again.

guidance used to be 24kTpa then dropped to 19kTpa now producing at way less at 14kTpa
grades dropping away too from 5% to 4.1% to now a multiyear low of 2.9%
nearing same grades as IGO Nova mine of 2.0% and lower than nearby POS LJ mine of 3.4% or SS mine at 5.1%

Its milling capacity 0.6MTpa
costs aud$4.86
NP is aud$10.50
margin still a healthy 100%
$145M
debt $75M
MCap $680M

WSA needs more higher grade ore & more mill capacity, it is capped at its current mill capacity & dependent on BHP for tolling ore.
Jinchuan needs more conc production now but getting way less from them. Jinchuan is on the hunt for more conc.

Global NIckel production is collapsing
Aust NI production down 15%
Indonesian/Phillipines down 20%, Phillo shuttered a whole island, Indo had earthquake on Ni island
New Caledonia/Vale shuttered mine on rioting looting
BHP Nickel West production down 13%
Global Nickel demand is booming up 13%

NP is going to boooom.

WSA has been hit with lower production at higher costs due to lower grades and low milling capacity.
PAN is yet another wasted investment requiring large capex with low grades in a stranded high cost area.

Simple, get another mill and higher grade deposits or do a JV for the same & do it asap. Why burn $140M cash?