I'm a closet Ni junkie LoL...
IMHO - Out of all the Aussie Ni Plays PAN has best balance of risk, capital growth during market recover, dividend income and best-in-class management.
Here is some data generated by Foster Stockbroking for the recent coverage of PAN but relates to all players... The "Cost per lb" is interesting but doesn't include and credits for by-product.
http://www.panoramicresources.com/files/081218_Foster_Stockbroking.pdf
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