one of teh worst performace share of the asx, page-4

They follow nickel prices. Their production seems to be increasing, but is limited by the two shutdowns this year. Also the AUD is against us.

That is two major factors out of our control - currency and price. What factors are under management's control? Expansion only, and they seem to be doing that by 5-10% in the coming year.

The reason for the near stable SP are those uncontrollable factors. I believe management is doing a good job with lots of projects underway.