GREY:FNKLF - Post Discussion
Post by
mcugly on Dec 19, 2013 10:20am
Nickel Prices
Prices seem to have stabilized around $6.20 - $6.35/lb. At these prices the company should continue to break even as Boehlert reported after the third quarter:
Mr. Thomas Boehlert, President and CEO of FNI, said "As a result of the nickel price environment, the Lockerby mine essentially broke even in the third quarter. In order to address continued market weakness, the Company has improved the terms of its ore off-take agreement and decided to stop ramp development at the 68 level, materially reducing planned 2014 capital expenditures. While the market environment has created challenges at Lockerby, we believe it will also provide opportunities to acquire attractive base-metal assets, consistent with our strategy."
Read more at https://www.stockhouse.com/news/press-releases/2013/11/13/first-nickel-reports-financial-and-operating-results-for-the-three-and-nine#81ok4ezoY3mlsqMp.99
When nickel prices recover, and they will, it's just a matter of when, the company should be profitable and the share price should recover. To what level, only the shadow knows.
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