JoJo,Fundamentals have nothing to do with short term prices but...

JoJo,
Fundamentals have nothing to do with short term prices but for what it's worth, I have plugged in the following to my model.
Based on an average 2008 nickel price of $25,000, I expect AGM to have an NPAT of approximately $100M. EPS of 14c on a P/E of 7 gives a fair value of 98c. That value moves up of course if the nickel price averages more than $25,000.
Of course, all that means nothing in the short term but long term investors can take comfort in those conservative numbers.