Asa19 Jul 2016 10:48
Its the quarterlies that I'm interested in Nickel price rising
Just reading the the last quarter rns Mr Yat Hoi Ning, the Company's Executive Chairman commented: Although commodity prices rebounded in this quarter, the overall business environment was still tough and challenging. A number of the ongoing improvements put in place by management have been taking effect and helping our businesses to recover in several important areas. At BNC's Trojan Nickel Mine, the financial condition has improved rapidly in Q4 mainly due to massive growth in Nickel sales and production, both over 40% higher than the figures in the last quarter. Our cost control measures have resulted in the C1 and C3 costs being further reduced by nearly $700/t and $1,800/t respectively since last quarter ended December 2015. It is the first time that the realised Nickel sale price is above the all-in sustaining cost (C3) in the past several quarters, regardless of market fluctuation in Nickle price. The nickel head grade has increased by 29% over the past quarter, mainly due to our strategic prioritization of accessing the higher grade ores and also due to upgrading and justifying the mining technology. At Freda Rebecca Gold Mine, the fourth quarter, from January to March, is the traditional off-season for gold sales. As a result, sales dropped by 24% in Q4 FY2016 compared to Q3. However the sales volume of this quarter was still 5% higher than that in Q4 FY2015. At Klipspringer, the Diamond sale price was increased by US$3.77/ct in the Q4 FY2016.
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