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Western Areas – December Quarter Results

    Home Latest Research Western Areas – December Quarter Results

    Western Areas – December Quarter Results

    By admin | Latest Research | 0 comment | 23 January, 2019 | 0

    Western Areas Logo

    Western Areas delivered a steady December Q with production of 5.4kt Ni in concentrate at C1 cash costs of A$3.15/lb (before payability) in line with Argonaut’s forecast of 5.4kt at A$2.90/lb. An increase in cash costs QoQ, along with a 13% decline in the realised nickel price impacted operating cashflow. Cash and receivables declined $20.5m to $143.8m, after a $5.5m dividend payment and $18.7m capital for Odysseus development and studies. Argonaut maintains a BUY recommendation with a revised target price of $2.50.

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