RE:RE:So lameSpeaking of FCF, here's what a real miner delivers on upcycles haha. NILSY is a top-notch investment in the metals sector. NILSY is profitable and pays dividends through entire cycles. They're ramping capex to 3.2B the next couple of years to expand production, but can easily afford it. It'll always be a key holding for me. In comparison, S is a highly speculative play on Ni/CO that could one day generate a return (or not).
>>>Consolidated revenue increased 15% y-o-y to USD 15.5 billion owing to higher prices of palladium and rhodium as well as the scheduled ramp-up of Bystrinsky project
>>>EBITDA decreased 3% y-o-y to USD 7.7 billion due to the USD 2 billion environmental provision. CAPEX increased 33% y-o-y to USD 1.8 billion owing to the execution of mining projects
>>>Free cash flow increased 36% y-o-y to USD 6.6 billion driven by higher revenue and scheduled ramp-up of Bystrinsky project. Net debt was down 33% y-o-y to USD 4.7 billion. Net debt/EBITDA ratio decreased to 0.6x as of December 31, 2020.
https://www.nornickel.com/news-and-media/press-releases-and-news/nornickel-reports-full-year-2020-audited-consolidated-ifrs-financial-results/