@speckledjim1 some people I know are very impressed with MCR. I'm not personally familiar with them of late but thought their deposits were a bit small and AISC was on the higher range - AISC around $1200 per/oz ?? Certainly cheap though and lots of cash
Anyway Chart on Nickel to my limited TA looks terrible. Hopefully it can hold $4. Unfortunately the crunch came out of supply demands in China earlier in the year and continued downwards..
@strauss I know is a big fan of manganese, but if you are going to have NMC batteries, you need the Nickel also... So yes I'm a bit of a nickel bull, particularly when you get the Nickel-Cobalt sulphide deposits.. So yes for me if I were going to have a nickel play it would be PAN, particularly if they can get Savannah back up. I think their costs around $3.30 though so not a lot of fat if the Ni price doesn't get well back above $4
Also think CZN is very interesting down here, because I think eventually they will crack Lynn Lake with the right hole that backs up the massive sulphides they found in Feb. Don't forget about their cobalt ridge project either as it is very interesting.. Disc -I don't hold either CZN or PAN
But as for down-trends and just generally. I think we're all pretty much on the same page here, but any liquidity events, particularly if from a coy that has raised prices at higher levels are immediately traded and eventually sold back down... So in other words it is far from the time to be pinning your ears back and scooping up miners. And for that reason I am going to call @Shinji Ono on your comments, and say the love for spec end, particularly mining, pretty much hit the sheet fan in Early march as people moved over to MM stocks, and clearly aside from a few Co runners recently there's hardly been much of a return though.
I guess what I am trying to communicate is that I am in two minds. The first is the obvious one that the spec end is poo, sure you can trade in and out of something that has been belted, but not really enough liquidity or conviction at the moment. And for that reason I guess I'm not convinced that the party will just get started after June 30 either.. There needs to be some sort of fundamental driven event, or a flush out to reset the paradigm i feel..
But the other opinion is very much the Piscean view that we are still in this new bull market. Markets aren't caring about terrorist events, hung parliaments, scandals, they are just looking ahead... And if that is the case when our domestic market is obsessed with a so called property bubble and bank exposure, then that starts to smell like opportunity to me as well. Comments from fund managers saying we are completely out are probably good contrarian examples that the market is a buy.. Also I don't know if anyone read Alan Kohler's note (not exactly a bible by any means) but he even admitted that he was probably following everyone else being a barry bear... So I guess it comes back to your comments again @Pisces ..They are really quite pertinent. If you are brave enough to buy any spec company, but particularly mining that has lots of cash, a reasonable economic project, decent management, and are prepared to just back yourself in with a longer view then it's hard to see why you wouldn't do reasonably well. Because it will be some random event when mining sentiment turns again. It happened last year out of nowhere the runs in IO, and as many are discussing could it be well happening now again on Gold? Didn't gold lead us out in early 2016?
Anyway, bugger, this was meant to be a post about Nickel not a bloody essay. Where's Anton's prose when I need it.. Probably just a long-winded response to what most of you have been debating the past week.. Cheerio
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