As everyone would have seen ......MCR / PAN / POS (and perhaps...

As everyone would have seen ......MCR / PAN / POS (and perhaps some of IGO's nickel operations) are basically closed or in process of doing same ......

this is circa 28-34 000's T per annum .....

if you check the nice chart in the SIR / IGO merger doco ......you would be well aware that at current spot prices circa 70% of the world's nickel producers are "under water" .....

there have been a few studies / reports on ferro-nickel production in china and Indo .......these suggest 15,500 - 17,000 is "break even" ....(excluding return on power station asset investment !)

most would have also noted that LME stockpiles are "trending down" to the tune of 1500-2000 T per day .....

"smarter" corporates would be looking at M&A in this kind of environment (imho).....

for MCR - I rekoon they would have "burnt" 5-6m in the June Qtr.....

I rekon the divvy will be cut (as this is about survival .....)..

hopefully MCR can demonstrate that at least one of Cassini / Voyce / Durkin can make money in the current environment .......

it also suggests the BHP smelting operation ......cant !

rgds
Value_Hunter