nickel is stuffed, page-4

What a great time to be invested in Allegiance Mning with their full steam ahead approach to mining operations.

Article stolen from KitcoLONDON (Reuters) - Nickel prices closed nearly four percent higher on Thursday, but analysts said the base metals market was vulnerable to fresh signs of a possible slowdown in the United States amidst a flow of economic data.

Three months nickel on the London Metal Exchange (LME) ended up 3.8 percent, or $1,250, to $33,950 a ton.

The nickel market supply continues to be tense and BHP Billiton said construction costs at its Ravensthorpe nickel mine in Australia have ballooned by 64 percent to $2.2 billion and that production would be delayed to the first quarter of 2008.

"With this market our sense is that all the risks are skewed to production delays," the global head of commodity research, Michael Lewis, at Deutsche Bank said.

"These delays can easily sustain a market deficit in nickel out to 2009, possibly 2010."

Stocks in LME warehouse edged up by 162 metric tons to 6,726, still less than two days of global consumption.

Earlier this week nickel hit a new record high of $34,100 and prices are more than double from January.

AGM...... A GLOBAL MONOPOLY straight out of Tassie lol



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