smashandgrab, the Commsec information is not so much a report...

smashandgrab, the Commsec information is not so much a report but a combination of analyst forecasts, when you enter the company code and click 'research' and then 'forecasts' in the Commsec website. Currently EPS forecasts for 08 and 09 on Commsec show -12 and -13.2 but I don't know what these are based on, and I haven't looked too far into them because I haven't paid much notice to them in the past. Given the most conservative forecast for nickel in 09 is $4/lb and several analysts are predicting $6/lb and upwards, I don't think earnings of -13.2 cents per share is on the cards (hopefully I'm right).

The report from ERA on the Albidon website is probably the most recent and therefore relevant report I can find, and they also have costs in the mid $3s.

I remain optimistic. It looks like sellers are stacking up again and I hope that there might be another run soon. Hopefully if it does run it'll stay there and not re-trace like it did this time, but I guess we'll see how it goes.

Regarding the debt, I think the reduction was a good move to reduce some of the risk associated with the company. The fact that they have cash flow now is also positive, and you'd think that they wouldn't have too much trouble when it comes time to re-negotiate terms with lenders.

All the best guys.