nickel price - miner prices

Wow Nickel at 10pm tuesday is > $8.90 . Massive change.

I suspect as so many (myself included) have been burned by Cu & Ni companies that none wants to buy until a trend forms. At the current Ni prices MCR was TWICE this price a few months ago.

The same has happened for WSA and others.

From a $1.40 base there can't be much downside.
MCR has 50c per share in cash so makes the business worth 95c a share. With no known write downs / one offs for 2010 and the profit projected, it has a low P/E .

My take is sentiment is the only thing holding it back, not fundamentals.

regards