worst nickel miner in australia

If the offshore parties involved in this 'merger' think they are going to build a WMC using CSM's nickel assets then they are in for bit of a surprise. Beta/Hunt and East Alpha are Australia's worst producing nickel mines by a country mile. It doesn't matter that the mines are run by ex-WMC managers, "the orebody maketh the manager" not the other way around. Cash costs of over A$7/lb !! Despite what some people think, WMCdid know a thing or two about nickel and now we know why they never continued with the development of Beta.

The company should have closed out the JML deal whilst the JML share price was hovering around the 20c mark instead of buying up Titan (whose nickel assets were even worse than CSM's). Now the JML market is not much different from the CSM one - they are simply not in a position to close that deal now. CSM's best bet would be to sell the stake in JML to OXR to fund its Kambalda nickel dreams.

Whoever was the CSM adviser on their nickel acquisitions really didn't know a good nickel mine from a bad one.