re: acturtle income insignificant? Don't know about you but Mr market likes earlier income and likes producing stocks.
*Look at my good old Equinox, no income, no share price movement.
* Mr MArket doesn't know how long the resource boom will last. Producing stocks take advantage of high prices now
*Nickel mines to come on stream in 2008 might hurt ni. price + various measures like US housing slowdown, China less spending etc
*Big resource doesn't mean much, as you have to issue shares on top of their existing mkt caps. They will also be debt funded to the hilt, whereas i don't see MRE or JBM carryin much debt(the opposite in fact)
*Potential for delays in bringing mines into production. Easier said than done i say!
I hold SMY because it is a 'producing' stock and make a profit. Their hedge book will be gone by next year, so will be unhedged. If it doesn't perform in a few months i will prolly let SMY go, as there are better alternatives.
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hmmm. being sold down heavily, page-24
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