This from their quarterly:A nickel metal and foreign exchange...

This from their quarterly:

A nickel metal and foreign exchange hedging line. The Company recently hedged 500 tonnes of nickel at an average price of A$18,635/t Ni deliverable in December 2004 and January 2005.

Holders should be ringing the company to find out what the ramifications (penalties) are of them not delivering any nickel. There may be none, because the nickel price is lower currently...however it would be wise to check. It may be this that is causing the cashflow stress (they had around 4.4 mill at end of sept quarter...wheres that gone?).

Personally, if i held, id be selling right about now...but then again since i dont hold, theres no emotional attachment involved so its easy to say i would be selling (the reality may be different).

Cdchi1