Rad, Well I am just becoming reaquainted with WSA myself, but from the past I have learnt that you often can’t take nickel miners numbers at face value. WSA for example loudly proclaims low costs, but unlike many other nickel miners it’s not $/lb payable that they report. Also I feel their AISC probably doesn’t generally include enough capex to stay in business. Important to do what you are doing and try to reconcile with their annual accounts over several years.
My own estimate is that they need near A$7/lb to mine out their current operating mines, but should be quite a bit better with Odysseus, without which I wouldn’t be touching the company this late in mine life.
Suggest you analyse the Odysseus DFS if you haven’t already, as that is the medium term future for the company. EL
WSA Price at posting:
$2.36 Sentiment: Buy Disclosure: Held