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In reply to: towie on Monday 21/05/07 04:25pm

Yes that would be nice. I only got in on friday @12 so very happy. Had been watching from .08 and wondering what to do. Seems like more to come with the nickel coming on soon.

My best hit yet as a newbie and it is beeroclock.

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better buckel up lads...................


Nickel May Rise 20% on Smelter Shortage, Credit Suisse Says


By Madelene Pearson


May 21 (Bloomberg) -- The price for nickel, used to make stainless steel, may rise 20 percent as a shortage of smelters to process ore into metal constrains supply, Credit Suisse Group said in a report.


Nickel may reach $65,000 a metric ton in the ``near term,'' Credit Suisse London-based analysts led by Jeremy Gray and Eily Ong said in a report dated May 16. Smelting output may grow at 4.6 percent this year compared with demand growth as high as 5 percent should stainless steelmakers rebuild inventories and global economic growth increase, the report said.


Nickel for immediate delivery rose to a record $54,050 a metric ton in London on May 15 as China's economic growth fueled demand for the metal. Cost overruns and delays at BHP Billiton Ltd.'s Ravensthorpe and Cia. Vale do Rio Doce's Goro projects, the two largest nickel mines under construction, exacerbated supply shortfalls, helping drive price increases.


``Prices will remain strong over the next two years given the lack of supply growth until 2009 at the earliest,'' Gray and Ong wrote in the report. ``The current profile of new smelters is unlikely to be enough to feed ongoing strong demand from the stainless steel industry in the next two years.''


Nickel for immediate delivery rose $1,800, or 3.5 percent, to $54,025 a ton on May 18. Prices have jumped 155 percent in the past year as inventories plunged 78 percent to an amount equal to less than two days of global consumption.


Only three of 11 nickel mine and smelter projects under way, including Ravensthorpe and Goro, will start production before 2010, the analysts said.


Risk of Delay


``Any delay in the 2008 startup of Ravensthorpe and the 2009 startup of Goro will clearly make our global smelter growth forecasts of 4.6 percent in 2007 and 5.3 percent growth in 2008 look too aggressive and would help underpin the current strength in nickel prices,'' the report said.


The forecast by Credit Suisse compares to the $55,000 a ton estimate of Standard Bank analyst Michael Skinner made April 26.


Prices are expected to stay ``strong'' over the next two years given the lack of smelter supply growth until 2009, the report said. They may also gain should an anticipated increase in production of lower grade ferro nickel from China be overestimated, the analysts wrote.


``The strength in today's nickel price is a good lead indicator to suggest that the ramp up of Chinese production is clearly taking longer than expected to make an impact,'' they said. ``Our suspicion is that the ramp up of Chinese production will not make a significant dent in global supply until 2009 at the earliest.''


The bank is assuming demand growth of 3 percent this year, rising to 5 percent should stainless steelmakers build inventories in the third quarter. A ``pronounced'' cutback to stainless steel production may damp demand for nickel and threaten prices, Credit Suisse wrote.



cheers PC

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In reply to: paperclip on Monday 21/05/07 06:53pm

Can anyone (in a nutshell) tell me what was said in the announcement??? Im in korea...can't open the RUDDY PDF file and no-one has mentioned anything about the ANN...someone ...PLEEEEZZZZ!

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In reply to: grommit on Tuesday 22/05/07 12:06am

here u go grommit...............happy reading



21 May 2007

ASX Announcement




Latest drilling supports increasing nickel resource base

Australian Mines (ASX: AUZ) is pleased to announce that recent resource

definition underground drilling at the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s 100% owned Blair nickel

mine near Kalgoorlie, has resulted in significant nickel intersections on E03C

and C01C shoots at Blair Deeps below the current workings.


E03C Shoot:

Two diamond holes were drilled to define the oreboby below the 400mRL,

and have returned the following wide high grade downhole intercepts:

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ AMUG 232 intersected the characteristic two lenses of E Shoot with

8m @ 8.20 % Ni followed by 4m @ 10.97 % Ni from 385m RL.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ AMUG 233 which deviated and drilled to the south of the shoot returned

1.0m @ 2.58 % Ni from 385m RL.


C01C Shoot:

Two diamond holes drilled below the current workings have returned the

following high grade down hole intercepts:

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ AMUG 223 :4m @ 10.60 % Ni from 375m RL

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢ AMUG 252:5.9m @ 4.30% Ni from 350m RL

These results continue the trend seen in previously reported hole

AMUG 175 returning a down hole intersection of 10.25 m @ 11.41 % Ni

from 395m RL.


Resource Calculations

Commenting on the latest drilling results, Australian Mines Chief Operating

Officer Mr Brett Young said, ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The widths and grades of intersections in both

shoots are very encouraging, in particular the tenor of the massive nickel ore

in C01C which exceeded 14% Ni over several one metre intervals.

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“The Company expects that this drilling will add to the resource base at Blair

and increase the mine life as these resources are developed going forward.



cheers PC


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paperclip...u recon we'll get over 20c today? http://www.sharescene.com/html/emoticons/lmaosmiley.gif ....could be a day to take profits as the day traders will be playing this one and some might get burnt. be careful people. http://www.sharescene.com/html/emoticons/weirdsmiley.gif
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In reply to: grommit on Tuesday 22/05/07 05:04am

i've got my sights on 12 months from now grommit. i dont care what the traders do to it on a daily basis.


cheers PC

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