Nickel is $11.82/lb, making new highs. Estimated production is 33k-37k tonnes, up from last year. Yet UBS call it a sell. It would be interesting to see why.
We are nearing the 30 month high for nickel, but also the all-time high for the AUD/USD.
I guess the main downside risks are nickel price falling, unexpected processing shutdown, or the AUD rising further.
I consider MRE undervalued.
last chance to buy under 80 cents, page-32
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