The Nickel Mines Ltd (ASX: NIC) share price has started the week very strongly.
In afternoon trade the nickel producer’s shares are up a sizeable 8% to a new record high of $1.39.
When the Nickel Mines share price reached that level, it meant it was up a massive 135% since this time last year.
Why is the Nickel Mines share price surging higher today?
Investors have been buying Nickel Mines shares following the release of its final quarter update for FY 2020.
According to the release, Nickel Mines had a record-breaking quarter in respect to production, sales, and earnings.
During the quarter, the combined production from its Hengjaya Nickel and Ranger Nickel projects (on a 100% basis) came to a record 11,527 tonnes of nickel….