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After sustaining a 30% lower Ni price for the period WSA’s 1H16 results deliver a net loss after tax. Operating cash flow remained positive during the period with WSA was able to complete the repayment of its convertible bonds and so WSA is now debt free.

With cash costs recorded at US$1.63/lb for the period, WSA continues to demonstrate its robust cost competitiveness. WSA estimates that over 60% of global nickel production is now occurring below the spot price. In the graph below WSA tracks a decade of data to show that the current market conditions are now extreme.