Based on what......Charts, TA or wishful thinking?
My concern is not the commodity price but the LME stockpile. Nickel price is going to decline further and higher cost laterite producers like Minara will not fare well. New Caledonia (Goro) is starting to crank the metal and Ravensthorpe’s Phoenix rising again isn’t auguring well either.
In effect the smart money has left the building at Minara. You can convince yourself otherwise but its going to be slog (as always) for this highly complex and energy intensive hydrometallurgical complex stuck in the middle of nowhere.
MRE Price at posting:
71.0¢ Sentiment: None Disclosure: Not Held
