It's all pretty clear, they are only closing the (modest grade) Sinclair mine, in August. Not proceeding with taking it from open pit to underground, putting it on C&M instead.
Doesn't effect their Cosmos flagship.
Lots of others, eg MCR,PAN and MRE appear imo doggedly determined to eat their developed inventories, hedge books and/or their cash hoards and mine this dip through for next to naught. Doesn't bode well for much strength to the pon upturn when it comes.
I just can't understand the recent run up in MCR and PAN sp's. The only nickel stocks worth touching atm imho are IGO and WSA, with IGO probably the only one making sustainable profits. WSA really looks too expensive to me atm.
EL
WSA Price at posting:
$3.77 Sentiment: None Disclosure: Not Held
