HAHA! I win! It was a bad quarter. If you are not puking out cash at 6$ nickel and 40$ Cobalt you should go home.
The reason the stock is trading lower is because:
- Production misses. Blaming it on the rain? Are you kidding me? Also, if mixed sulphide production was bad, the rail impact would have no imapct on production. They are just using this as excuses. The real issue is an old asset that is not seeing the end of its useful life.
- Without one time cash events, cash would have decreased by $50 million!!!!! (Take a way the share raise and Cuban receipt payment). At these prices, Moa should be puking out cash!
- Ambatovy continues to be a disaster.
I agree with Contrarion. If ni prices spike, the stock will no dounbt follow. But I'm convinced that we are at a goldy locks ni and co price. I don't see major increases happening.
I'm sticking with Vale. I'd rather the safe bet. That's just me.