Bling, the other thing I cant deviate from in my conviction on Nickel, in particular MCR and TTR, is that I dont believe they are fully valued yet. The spot$A hasnt retraced that much that it will take the shine off next qtrs results, both companies have excellent managements in place, in particular MCR, with their exploration program, lost time due to injury stats, TTR with gold/copper on the horizon...and a lot of these recent startups wont be in a position to actually produce for another 12 months yet. Sure there are some small sellers coming onstream, but their management is yet to prove itself longterm. Lastly the fundamental growth in demand isnt going away, Nickel stocks are down to around 14,000t according to LME, and an article I read last week(?) suggested that China's explosive resource demand growth has still only hit over 3% in this area, with Japan and Korea experiencing around 8% growth; theres still a huge headroom for China to expand upwards which would cripple stockholdings. Longterm its still gotta be the play, unless there is a shift in a fundamental, like they build plastic sinks!use titanium in munitions! and substitute copper for stainless fishing hooks! Yes I hold and yes I am still biased and am waiting to be convinced to get out of this space.
MCR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
