On the downside, the broker has added nickel player Western...

On the downside, the broker has added nickel player Western Areas to its conviction list as a sell recommendation. “We add Western Areas to our Conviction Sell list as we see -35 per cent potential return from the current share price, the lowest potential return for the producers in our resources sector coverage, Goldman said.

“Whilst Western Areas operates a high grade nickel sulphide business that has now reached a stable low cost production base, the potential negative return is driven by our declining nickel price forecast which is clearly outside of management’s control and in the near term, with limited opportunities for volume growth to offset this."

http://www.businessspectator.com.au/bs.nsf/Article/Goldman-Sachs-Fortescue-FMG-iron-ore-OceanaGold-pd20121107-ZSVW9?OpenDocument&emcontent_spectators&src=rot