china deval ....., page-10

My sentiment is also sell and wait and see Ni price recovers. If so this one will fly. Keep my eyes on MCR. But for now it is too risky.

I said a while back, if MCR NEVER pay any dividend since 2001 than cash level would be much higher and sp (with cash backing) will be much high (eg $1.5). Than MCR can use large cash reserve to buy quality mine but under distress when Ni price collapse. MCR paid $133m dividends total & $34m cash out of 188m shares (ie $0.89/share cash backing if never pay dividend).

I invested and sold out with profit and dividend.