trashed and down 6pc overnight, page-19

Dolphin- good post. I post regularly on AGM Forum and its welcome to get away from the idjuts that constantly post personal attacks because of jealousy.

Unfortunately some people hate to see success in others and it brings out a real mean streak in them. (ref Manure, Mookie, and Cricket)

Just a point about nickel pig iron.

Its been tolerated by the conventional nickel producers at the moment because its filling a gap they are unable to fill. The alternative is rationing- that means forced substitution, and some of the consumers may not come back to SS.

Exports of limoite clay will stop once demand gets somewhere near supply. Noone will tolerate this continuing at the expense of exports of value added laterite nickel- already there are reports of discussions
to stop clay exports in Indonesia and New Caladonia.

Re PON. Someone forecast $65000 and it LOOKS silly at the moment. But all we have had is a doubling of LME stocks to a high of 9000 tonnes (WOW) and a lot of talk. Dont dismiss the return of high prices- all it would take is a halving of the LME nickel pile (could happen almost overnight). Once this happens the pig iron and substitution talk will dissapear and we are away again.
(Isnt Europe closed down for a month at the moment?)

Im not saying we will see $65000, but Ive no doubt we will see close to $50000 before the end of the year. Personally I dont like this volatility- Id be happy with nickel at a constant $35000US for the next couple of years.

Cheers!