RE:RE:RE:RE:Nickel Industry- Wide Cash Costs DiscussionI am focused on cash flow and not earnings as this gives a truer picture of the business, and I'm also not interested in analyst's consensus numbers. Analyst's biases are to be exploited. In general, I am only interested in analysts for any insights into the business that they might have, not their target prices or earnings estimates which are ever changing and always off the mark. Given nickel and cobalt prices I would expect that cash flow will not be disappointing. One will need to adjust cash flow for seasonal issues such as interest payments, fertilizer sales, etc in order to normalize the cash flow as these things occur in certain quarters but not others. Unlike others on this Board, I do not believe that the market is always efficient. Otherwise, what would be the point of even engaging in this debate or actively investing money for that matter.
As far as the "growth" aspect of this Company that people keep harping on. Do you really want David Pathe allocating capital to new opportunities?. He has no proven skill as a capital allocator. The play here is on the nickel/cobalt cycle advancing and what the existing assets and add on assets can generate in cash flow. This Company has come full circle and essentially now has the same asset base (minus coal) as it did when the share price was much higher.