Nickel to revisit 2004 highs...I read this commentary from the...

Nickel to revisit 2004 highs...

I read this commentary from the BMO Financial Group Commodity Price Report, which bodes well for JBM and other Nickel plays who are currently producing...a bird in the hand and all that stuff versus your nickel explorers

http://www.thebulliondesk.com/content/reports/temp/bmo.pdf

Nickel gained 4.3% in January to average US$6.59/lb, as prices were
buoyed by a sharp drop in LME inventories (close to 20%). While still at very
elevated levels, prices have generally drifted downward since hitting a peak early
last year, declining 4% over the past twelve months. This break from the earlier
strong upward momentum reflects a reduction in demand, as consumers
substituted other metals for nickel in major end-uses, as well as some increase
in supply. With no significant new supplies expected to come on stream before
early 2006, the current degree of tightness in the supply-demand balance is
expected to persist in the near term. This should keep prices high and potentially volatile throughout the year.

NB: Don't forget the 20c dividend 100% franked - stock trades ex-dividen come Monday.