Huntleys raise some obvious facts, but they make a few huge assumptions in their figures ie that sulphur will remain at those expensive levels, that Nickel will remain at such lows levels, and the Aussie dollar will continue to move up, rather than retreat.
I guess it's really upto where you think the price of these will be in the future?
I think that at these levels there is more upside than downside.
huntleys downgrade, page-2
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