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Nickel, Discussion
theflasherman
post Posted: Dec 19 2003, 12:29 AM
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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.



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[b]Later, Flash[/b]
 
toilet
post Posted: Dec 18 2003, 09:27 PM
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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.


 
theflasherman
post Posted: Dec 18 2003, 04:14 AM
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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.



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[b]Later, Flash[/b]
 
toilet
post Posted: Dec 18 2003, 01:40 AM
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nickel going good eh
anyones loking into the newlly listed spin off
of CRS - croesus

NKL - Nickel Australia ?


 
one fat lady
post Posted: Dec 18 2003, 12:19 AM
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I noticed all nickel stocks had slightly risen and I didn't know why, now I do
cheers

 
theflasherman
post Posted: Dec 17 2003, 11:35 PM
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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.




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[b]Later, Flash[/b]
 

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peterke
post Posted: Dec 17 2003, 04:50 PM
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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

 
theflasherman
post Posted: Dec 17 2003, 04:14 PM
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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.



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[b]Later, Flash[/b]
 
 


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