Good to see some good remarks here from other posters.
Loki is right on the ball with JBM it was the re-trace from heaven to jump into JBM, and I did to make some real good returns after that.
And Atotx you are totally right that Pig iron production will have basically have come to a halt right now, with the current fall in the Ni price.
Plenty of big building projects coming on line that need Steel and stainless steel as Atotx is saying. The gulf is one big building site right now and there has never soo much money to splash around due to the current high oilprices.
And who is saying that China is slowing??? I have seen the Chinese doing this before , scaremongering the markets to get the prices of commodities at a cheaper price. I also believe that they are in need of huge amounts of steel to rebuild entire cities after the latest natural disaster.
Remember one of the reasons why so many school childeren died was the fact that not enough steel was used in the school buildings.
China will keep growing and those who have followed the LME will have noticed that stocks are going down.
The pig iron factor was reported by one broker as withouth pig iron production the Ni price would be back to $50000 to $100000 per tonnes.
This alone should give us enough peace to stick it out with nickel for longer.
Xstrata just told the market today that it will not go ahead with a Nickel smelter in Botswana because of high costs.
This all should bode well for our Nickel sulphide producers and especially the fast growing ones like WSA.
Make the most of the current weakness in WSA and remember how JBM did a simmilar dive at market weakness only to double in price later on.
Mike here is your chance , it could be the best investment you had for a while. Rember what would happen if another golden quoll is discovered. Or maybe two more????
With pig iron out of the window prices will stay strong imho. or at least give us a secure bottom around the $11 mark.
Good luck to all
jojo
And please do your own research as I could be totally wrong.
WSA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
