nickel update

Citigroup have a report out on the nickel sector. 60 pages. They have upped their nickel price forecast by 50% to $6/lb and upgraded Jubilee Mines to a BUY with a target price of 2080c. They have initiated coverage of Sally Malay with a BUY and a 585c target price. This is all part of the Sally Malay transition to institutionally held and researched stock. They will go into the ASX 200 on June 15th. They have a SELL on Independence group (IGO) which agrees with the Tricom analyst Hayden Bairstow’s view. They also have a SELL on Western Areas (WSA). Minara (MRE) is a HOLD (target price 920c).



DYOR