valuation and balls of steel

Hello,

Regardless of the correction that I predicted in the Ni price that has come to fruition I believe that certain stocks have been severely punished and as such am re entering the Ni market for some Ni stocks that should have been due for a re rating.

After using conservative figures I am coming up with a blended valuation of around $1.40.

This is using extremely conservative currency rates, Ni prices, production profile (being reduced from 8000t) and increased costs.

With this stock being currently valued at half this valuation, and with managements desire to pay a dividend in one years time, AGM is ripe for picking.

Just as PNA got slammed when copper crapped itself in Feb last year and a bottom drawer like PNA got burnt from 40's to mid 20's, I believe the same opportunity presents itself with selective nickel stocks also officially moving from explorer to producer.

Used some profits from Iron Ore hopefuls to reenter some undervalued nickel stocks.

TheGimp