potential price, page-4

streaty.......
You are right about nickel...very exciting times for CSM hope production is up at Kambalda.

No stopping nickel
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Wednesday, 24 January 2007
Paul Garvey

NICKEL has smashed through the psychological $US40,000 per tonne barrier, with the metal's latest surge propelling a suite of Australian nickel miners and developers to fresh all-time highs.

During the evening session on the London Metal Exchange overnight, the spot price of nickel added $1200 or 3% to close at $41,000/t – the first time the metal has crossed that price threshold.

Three-month nickel was also up, gaining $500 or 1.3% to $37,800/t.

The spot price of nickel has gone up almost $10,000 since January 9, when the metal changed hands at $31,575/t.

Last night's gains came despite the LME's nickel inventory remaining steady, with the total tonnage under the LME's watch adding 12t or 0.2% to take the stockpile to 5064t. Daily global consumption of nickel is around 3500t.

The latest move in what appears to be the metal of the moment helped propel a bevy of local nickel equities to new highs.

Mincor Resources was up 6% to a new peak of $2.65, while fellow nickel miner Sally Malay Mining re-wrote its record book in moving to a high of $3.10 before retreating to $3.00, a gain of 5.6% since the opening of trade.

Meanwhile, advanced nickel plays Albidon and Mirabela Nickel also hit new all-time highs. Albidon, which also announced an exploration joint venture with Zinifex in Tunisia, hit $1.90, and Brazilian-focused Mirabela added 4.1% to sit at $3.58.