"All things excellent are as difficult as they are rare." - Baruch Spinoza
Nornickel (OTCPK:NILSY) recently reported the operational and financial results for 1H2019 ended June 30, 2019. In this article, I intend to review how the company fared during that time and update the investment thesis.
Macro outlook, metal price realization
In the long term, Nornickel is bullish about nickel, palladium, and platinum and neutral on copper. In the medium term, the company is neutral on nickel and copper and bullish on palladium and platinum (see here).
- Nickel. The drawdown