up 5+% today...another good ann ???

SMY is up nicely today as the nickel price goes higher.

Yesterdays announcement was good as it clarified the excellent hedged and unhedged position of SMY.

Moreover, it clarified that development is proceeding well and implied that there are no obvious risks to production commencing in August as planned.

As stated in an earlier post, the wet season has not caused any delay to the construction schedule...with the risks to the production schedule almost eliminated...expect to see price movement to the upside.

Also, further positive drilling results from the Copernicus prospect could add substantially to resources and project upside.