byron, you need to be patient. The nickel price is back above US$10/lb, plus nickel stocks are on the decline again. The disruption at BHP?s Kwinana refinery could help keep pressure on supplies adding to current disruption at Vale?s Voisey?s Bay operations, as well as potential further delays at the company?s Goro mine in New Caledonia.
BHP has halted production at its Kwinana nickel refinery in Western Australia because of a lack of hydrogen gas.
First Quantum have started modifications at Ravensthorpe, expected to continue for 12 months, to be followed by commissioning over 6months and then ramp up of production
Byron, it is the shareholders who can just sit and forget, accummulate a few extra shares when prices are down. AND then when everyone forgets in a year or two about the GFC and China and India are growing at 10% year on year and nickel stocks are dropping dramatically. Minara will be rocketing and everyone is jumping on board in case they miss the boat, then these wise shareholders will slowly start to sell, maybe at $10/share. The GFC has allowed me to accumulate 10 times more shares than I held before. Fact is I couldn't afford to buy too many before at inflated prices, but at 26 cents I could afford to buy heaps. I could make a nice profit now at 80 cents, but I don't even think of selling yet, maybe at $5 I'll sell a few.
MRE Price at posting:
80.0¢ Sentiment: LT Buy Disclosure: Held
