It is probably instructive to revisit the SCE valuation . SCE used a long tem nickel price of $7 US for their valuations ,and it was still positive . I see the low Nickel prices as being unsustainable in the medium term and seem to reflect the yoyo situation caused by speculators in the market .Once the price for Zinc Lead and Nickel bottom ,they will head back up to a more sustainable level .Oil can be expected to come off more ,and this will be positive .While I am rambling ,this Carbon tax is a dogs breakfast and further hurting our resource companies .Rudd should be taking the positive approach ,by pumping a couple of billion dollars into green energy solutions that can really make a difference . Hot rocks ,Solar ,and UCG will turn out to be great for us ,and would be expedited with some funding ,that could make Australia market leaders ,but no ,they take the negative and economy depressing approach of imposing a further confusing tax that will be a bureaucratic nightmare .We have huge amounts of cheap natural gas in Australia ,why arent we driving on it ? The government needs to be proactive to make these things happen .
MLX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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