Listed Nickel Asia Corp. incurred a net loss of P89 million in the first three months of 2020, reversing the P138 million net income it recorded in the same period last year. Nickel Asia also reported a consolidated net loss of P10 million from its equity investments in Coral Bay Nickel Corp. and Taganito HPAL Nickel Corp., compared with the P25-million net loss in the first quarter of 2019 on account of higher ore prices. The company sold an aggregate of 2.78 million wet metric tons (WMT) of nickel ore, lower than the year-earlier 2.89 million WMT. The average price received for sales of the firm’s two ore types in the first three months was $12.95 per WMT, higher than last year’s $10.81 per WMT. Nickel Asia shares were flat to close at P1.54 each on Friday.

Source: Manila Times May 08, 2020 17:35 UTC