Western Areas (WSA) quarterly report ok but shares hit
Western Areas (WSA) -3.65%; Hit a 4-month low today after announcing their December quarter production numbers to round out the half year. The only real surprise was a fall in sales for the quarter which dipped 20% on the second quarter. The company blamed the bush fires for delays in shipments while mill production remained strong and tracking in line with guidance for the full year.
Costs crept a little higher in the quarter although remained well within guidance of $2.90-$3.30/lb at $3.07/lb for the half. Shares were sold off today, although not all related to the quarterly. Nickel has tracked back to 6 month lows with the coronavirus epidemic impacting commodity prices across the board.
Western Areas (WSA) Chart
