theflasherman Posted December 17, 2003 Share Posted December 17, 2003 Hi Nickel stock followers. MCR and WMR up today on the back of rising nickel prices. A little odd that JBM not following suit. There looks to be a major seller in the stock who has not finished. It seems range bound between 4.00 and 4.30. I did sell out of JBM at $4.15 after buying in the temporary lull of $3.60 a month ago. But it does puzzle me why the price is acting the way it is. I have done some quick numbers on JBM and i estimate that they will make between A$75-85million this year in profit. This is substantially up on last year and with a market capitalisation of A$513 million they are on a forward P/E of 6.0 to 6.8. This appears to be reasonable given Cosmos low cost operation. Perhaps mine life is really weighing on JBM. There appears to be real hope of upgrading reserves and they have a number of exploration projects on the go. Emu Creek was meant to have given us some results by now and they look long overdue. MCR is likely to benefit from the high prices from January as I understand their forward contracts start to roll off. Current explorers will probably miss the best of the current nickel price rise IMO. Link to comment Share on other sites More sharing options...
peterke Posted December 17, 2003 Share Posted December 17, 2003 SMY was also up as well athough I am not sure if this was because of the rise on nickel price or because of some exploration results. I hold MCR and SMY. I am hopeful that both will start to trend up again on the back of the rising nickel price regards Peter Link to comment Share on other sites More sharing options...
theflasherman Posted December 17, 2003 Author Share Posted December 17, 2003 Morning session in London reveals that Nickel prices screamed through US$15k a tonne. This rise is frightening. The Aussie dollar has come back slightly. If workers at Falconbridge in Canada goes on strike next month nickel could move into unchartered territory. This should be Nickel stocks have another good day. Link to comment Share on other sites More sharing options...
one fat lady Posted December 17, 2003 Share Posted December 17, 2003 I noticed all nickel stocks had slightly risen and I didn't know why, now I do cheers Link to comment Share on other sites More sharing options...
toilet Posted December 17, 2003 Share Posted December 17, 2003 nickel going good eh anyones loking into the newlly listed spin off of CRS - croesus NKL - Nickel Australia ? Link to comment Share on other sites More sharing options...
theflasherman Posted December 17, 2003 Author Share Posted December 17, 2003 Hi toilet Care to give us a run down? There are 3 new mining floats over the last few days. Nickel Australia (NKL), North Star (NST) and Cougar Metals (CGM). All rely on exploration success and could well miss the peaking Nickel prices. Speaking of the price, the LME Nickel price dropped in the afternoon session but still closed well up on the day at US$14,612 a tonne. Link to comment Share on other sites More sharing options...
toilet Posted December 18, 2003 Share Posted December 18, 2003 too lazy to so copy and paste for u PRINCIPAL ACTIVITY Nickel Australia Limited (NKL) is a minerals exploration company focused on the exploration for nickel in the Eastern Goldfields of Western Australia. NKL was formed for the purposes of acquiring 100% of the nickel rights from Croesus Mining NL (CRS). In consideration, NKL issued CRS with 15 million shares and granted CRS a 1% royalty over the value of nickel concentrate mined. In addition, NKL has agreed to spend a minimum of $3.15m on exploration at the Norseman, Davyhurst and Beete Projects prior to electing to relinquish the tenements back to Croesus. NORSEMAN (100% OF THE NICKEL RIGHTS): The Norseman Project is located near the town of Norseman in Western Australia, 190km south of Kalgoorlie. Previous drilling has intersected mineralisation including 14m @ 1.16% Ni, 50m @ 0.87% Ni and 10m @ 1.03% Ni. DAVYHURST (100% OF THE NICKEL RIGHTS): The Davyhurst Project is located 170km NNW of Kalgoorlie. Previous exploration has intersected 5m @ 0.39% Ni. Soil sampling identified anomalies ranging up to 900ppm Ni and 120ppm Cu. BEETE (100% OF THE NICKEL RIGHTS): The Beete Project is located 60km south of Norseman. Previous drilling has intersected nickel intersections including 28m @ 0.13% Ni and 16m @ 0.2% Ni, 101ppm Cu and 180ppm Zn. SPLINTER (EARNING 85%): The Splinter Project is located 120km northeast of Esperence in Western Australia and is prospective for copper and gold. Regional sampling identified a 2.5ppb gold and copper anomaly over an 8.5km x 5.5km area, with samples of over 10ppb Au also recorded. Link to comment Share on other sites More sharing options...
theflasherman Posted December 18, 2003 Author Share Posted December 18, 2003 Thanks toilet I looks like they have some serious exploration work to do. I always like a little bit of cash flow coming in for a company to help self fund a little. However, if they do strike a good vein of nickel i'm sure they'll scream ahead. Link to comment Share on other sites More sharing options...
theflasherman Posted December 21, 2003 Author Share Posted December 21, 2003 Nickel prices had another good run on Friday in London up to US$15,095 a tonne, where most base metals were also up. Link to comment Share on other sites More sharing options...
theflasherman Posted December 23, 2003 Author Share Posted December 23, 2003 FYI - Morning session LME for 23 Dec 2003 LONDON, Dec 23 (Reuters) - London Metal Exchange (LME) nickel futures hogged the limelight at Tuesday's midsession, chalking up a fresh 14-1/2 year high as speculative funds piled back in to buy in thin seasonal trading conditions, traders and analysts said. "The (base metal) market is not ready to completely lie down yet. The trade is pretty quiet now but the funds are still there and their appetite is still there," one senior LME trader said. "Some markets are outright jumpy -- this is not a seasonal lull by any stretch of the imagination...All the positive factors as still there and I'm expecting the markets to push higher before the end of the year," he added. Benchmark three-months nickel <MNI3> soared to $15,400 a tonne in Tuesday's second morning rings, up sharply from $14,995 at Monday evening's kerb close. Prices later hit a new 14-1/4 year high at $15,625 in the morning kerb session. Ingrid Sternby, base metals analyst at Barclays Capital, said: "Most commodities are well placed for an extremely strong start to 2004." Copper <MCU3> moved up to $2,225 from $2,219 at Monday evening's kerb close. "After a bit of profit taking, there's been some buying today and I think on copper we should consolidate now between $2,200/10 and $2,230/50," the LME trader said. Aluminium <MAL3> slipped $5 to $1,565. Prices later rebounded in the kerb to around $1,587, underpinned by strength in other metals. In market news, the LME said on Monday its investigation into the aluminium market had uncovered evidence of a form of collusion and misconduct by non-LME members, and that it had referred findings to Britain's Financial Services Authority (FSA). Zinc <MZN3> gained $6 to $995, while tin <MSN3> showed further flashes of strength after the previous week's sharp rally, surging to $6,265 from $6,155. Prices reached a new 7-1/2 year high at $6,370 on Thursday. Lead <MPB3> gained $9 to $687. Link to comment Share on other sites More sharing options...
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