No research that I have seen recently. The key to the nickel forecast is the iron ore demand and consumption. A percentage of that steel being produced will be Stainless. A key issue i believe some analysts do not regard is the internal consumption by China of their own manufactured goods. That is the big wave that is emerging as a giant market. Imagine hundreds of millions of families that will now want and can afford basic things like a kitchen sink, a fridge, new knives and forks, Look around you at the stainless steel appliances, door handles, phone components, furniture, use in shopping malls and buildings. There have been no significant nickel sulphide discoveries in many years and the major new projects like Voiseys Bay, are laterites. There are no more major sulphide deposits left. Forecast nickel consumption by 2020 will be 120-150% of what is currently being produced today. It can only come from large nickel laterite ore projects. What we are very happy to see with Yerilla is that an end user has picked up the project. They are less concerned with market prices and more concerned with secure supply. Rockford
HRR Price at posting:
20.5¢ Sentiment: LT Buy Disclosure: Held
