With the chips down, with every company getting the heave-ho, CSM started a buyback, Immediately, the shares recovered 13 cents to 3.50 and they are now 364, up another 14 cents.
Then we have this extract from the resources report by Dave Forest:
"Canadian nickel miner Inco echoed the bullish forecast for their star metal, predicting that Chinese demand for stainless steel will deplete nickel inventories faster than mines can boost output over the next five years.
The company forecasts that global nickel supply will grow by between 55,000 and 60,000 tons this year, with China alone potentially consuming 45,000 tons or 75 percent of this output".
Comment: CSM is doing some high speed exploration of more nickel as well. With their manganese, chromite, nickel, gold and possibly iron ore, this Mining House is well placed.
Gerry Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.
CSM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
