Well what did you really expect. They bought it five years ago for 25 mill, paid WSA 20 in operator fees and invested another 15, so it cost them 60 and they made 8 mill over 5 years or so. In that time, nickel has fallen 50%. Really they were lucky to make 13% on it. Nickel is also forecast to fall to $7.80 a lb next year before rising again to present levels in 2014. WSA would know that all too well.
KZL Price at posting:
31.0¢ Sentiment: Buy Disclosure: Held
