well i brought FXROA instead today
its risen 100% since last week's dramatic fall.
or 50% for fpos.
i know im a bit late, but i tink this one will shore up some good stuff up to first quarter next year.
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well i brought FXROA instead today
its risen 100% since last week's dramatic fall.
or 50% for fpos.
i know im a bit late, but i tink this one will shore up some good stuff up to first quarter next year.
[quote]Originally posted by tricha
[
Independence Group
As far as IGO goes, yes $5 a share is possible, especially with their gold tenants finding excellent gold. Iron ore, bit of a side issue, I do not think they are really interested in it, might be a bonus though.
And yes they hold huge Nickel extensions which are being drilled and quantifed right now. [quote]
Hi Tricha - see below, we should know more about iron ore within the next month.
=DJ INTERVIEW: Australia's Independence Grp Targets Iron Ore
By Stephen Bell
Of DOW JONES NEWSWIRES
PERTH (Dow Jones)-Australian nickel miner Independence Group NL (IGO.AU) said Tuesday
that it hopes to diversify into the booming iron ore sector if a current exploration
program in Western Australia's Pilbara region proves successful.
Independence managing director Chris Bonwick told Dow Jones Newswires that drilling has
begun over a large iron ore target on the company's 80%-owned Goldsworthy project.
"We started over the weekend," Bonwick said in an interview, adding that
assay results should be available in two to three weeks.
Perth-based Independence joins a growing band of small Australian companies trying to
develop an iron ore business, lured by high prices for the steel-making commodity.
Earlier this month Asia's two biggest suppliers, BHP Billiton (BHP) and Rio Tinto
Plc. (RTP) unveiled a 19% increase for annual contract iron ore prices with several
non-Chinese steel mills.
China has so far resisted the latest price increase, which follows a 71.5% hike last
year that riled Beijing officials. Analysts believe that China will eventually fall into
line with other mills in Japan, South Korea and Taiwan.
Independence is testing whether its Goldsworthy project contains hematite, a type of
high grade iron ore that is appealing to steelmakers. "It is possible that it could
be hematite that was not found before because it is under cover," Bonwick said.
Goldsworthy is only 15 kilometers from BHP's Yarrie rail line and roughly 80 to 90
kilometers from Port Hedland, Bonwick said. BHP has nearly exhausted reserves at its
Yarrie mine and may be looking for new sources of ore, Bonwick said.
Goldsworthy is Independence's second diversification project outside its core
Long-Victor nickel mine in Western Australia that produces around 9,000 metric tons per
year.
The company also owns 30% of the Tropicana gold project, east of Kalgoorlie in Western
Australia, where South Africa's AngloGold Ashanti is expected to spend around A$11
million this year on drilling out an initial resource estimate.
Several other small Western Australian miners are also seeking to diversify in an
effort to capture high prices for a wide range of commodities such as nickel, gold, iron
ore, copper, zinc and uranium.
Manganese miner Consolidated Minerals (CSM.AU) is moving into nickel and iron ore,
while nickel producer Mincor Resources (MCR.AU) recently unveiled expansion plans in
copper, gold and tungsten.
In early afternoon trade, Independence shares are up 2.7% at A$3.00, valuing the
company at about A$328 million. The stock hit a record high of A$3.61 earlier this month.
-By Stephen Bell, Dow Jones Newswires; 61-8-9245-6408; sgbell@bigpond.com
-Edited by Ian Pemberton
(END) Dow Jones Newswires
May 30, 2006 00:28 ET (04:28 GMT)
Copyright © 2006 Dow Jones & Company, Inc.
Tuesday 30 May 2006 14:28:32:980 AEST
Hi Sid
U R right!
Iron ore, bit of a side issue, I do not think they are really interested in it, might be a bonus though.
Still a bonus option, BHP, if ok will probably mine it.Have what it takes.
Cheers not so [B)][}:)]
check AGM out - 26c an absolute bargin ,They now have 5 drill rigs going and are expecting some good drill results shortly
Share Pur plan has now funded this soon to be producer
remember AGM is valued at 43c with a 5.25 nickel price [?]
-this time next year 90c- $1.20c as long as the nickel price dosen,t tank;)
Well JBmurc hopefully nickel will stay up, then AGM will be a winner. you will be a winner, I will be a winner and everyone else who has nickel stocks.
Personally I'm remaining with Mincor, which hung in there against the rest today.
Why, Mincor is money in the bag, I'll be disapointed if they do not pay out 5 cents a share dividend at years end.(They will have 40 million tucked away in the bank)
Cheers not so [B)][}:)]
Commodity Strategists: Nickel to Rise on Demand, Goldman Says
June 7 (Bloomberg) -- Nickel prices will rise in 2007 and 2008 as demand, led by increased production of stainless steel in China, outpaces supply, Goldman Sachs said.
Nickel prices may average $7.42 a pound this year, Goldman Sachs JBWere Pty. analysts Malcolm Southwood, Paul Gray and Marc Bonter said in a report yesterday. Forecasts for next year and 2008 were raised to $7.30 and $8.10. Previous forecasts were not given, and the report didn't specify if the forecasts were for the spot market or three-month futures prices.
Surging demand from consumers and investors amid falling stockpiles and supply disruptions has spurred a three-year rally in the prices of many commodities. Nickel for delivery in three months on the London Metal Exchange has risen 53 percent this year, reaching a record $23,050 a metric ton on May 26, equivalent to $10.46 a pound. Prices have since slipped 11 percent to $20,625 at 9:35 a.m. London time today.
``We now envisage considerably stronger nickel market fundamentals in 2007 and 2008 than we had previously forecast,'' Southwood, Gray and Bonter said. Nickel, as well as copper and zinc, are ``expected to experience very tight, or tightening, fundamentals over at least the next two years.''
Nickel is added to steel to make it rust-proof. China's stainless steel production will climb 32 percent to 4.4 million tons this year, and 33 percent next year, Southwood and colleagues said. Output will increase by a further 23 percent in 2008, 20 percent in 2009 and 16 percent in 2010, they said.
At the same time, nickel supplies will be tight, mainly because Inco Ltd.'s Goro project in New Caledonia and BHP Billiton's Ravensthorpe project in Australia would begin production later than expected, the analysts forecast.
Goro, Ravensthorpe
The first output from Goro may be in the fourth quarter of 2007, while Ravensthorpe will begin production in the second half of 2008, with ``shallow ramp-up profiles for both projects,'' the report said.
Still, nickel prices may stabilize in the second half of this year as companies run down inventories of both nickel and stainless steel, the three analysts forecast.
Rapid growth in Chinese stainless steel production could also push nickel prices lower in the coming months as other countries would produce less stainless steel, they said.
Nickel may average ``just'' $6.40 a pound in the fourth quarter this year, the report said. Three-month nickel futures prices on the LME averaged $5.78 a pound during the fourth- quarter last year, according to Bloomberg data.
To contact the reporter on this story:
Meeyoung Song in Seoul at msong2@bloomberg.net
Last Updated: June 7, 2006 04:39 EDT
It all looks great for Nickel, so it should all look great, for any nickel associated company.The prize figure is this one, LME Nickel 15,978 -774, great down another 774 tons.
:):)
SPOT MARKET IS OPEN
closes in 38 hrs. 25 mins.
change since 19:00 London Time
Price: US$/lb
Copper ¬ Jun 15, 04:28
Bid/Ask 3.0168 - 3.0350
Change +0.0816 +2.78%
Low/High 2.9125 - 3.0713
Charts
Nickel ¬ Jun 15, 04:22
Bid/Ask 8.1042 - 8.1496
Change +0.0907 +1.13%
Low/High 7.9228 - 8.2630
Charts
Aluminum ¬ Jun 15, 04:30
Bid/Ask 1.1464 - 1.1487
Change +0.0168 +1.49%
Low/High 1.1260 - 1.1623
Charts
Zinc ¬ Jun 15, 04:11
Bid/Ask 1.3532 - 1.3646
Change +0.0136 +1.02%
Low/High 1.3328 - 1.3736
Charts
Lead ¬ Jun 15, 03:33
Bid/Ask 0.4399 - 0.4445
Change +0.0068 +1.57%
Low/High 0.4331 - 0.4445
Charts
Uranium ¬ June 5, 2006
Ux U308 price: 44.00
Change from
previous week +1.00
London Metal Exchange Warehouse Stocks(Jun 14)
Metal Tonnes in Storage Change from
previous day
Aluminum 767,850 -2900
Copper 104,550 -950
Nickel 15,978 -774
Lead 113,325 -75
Zinc 232,875 -1725
Have you got a nickel, worth more than a dime!
If you have a look at a presentation from AGM recently, it shows the consumption rate of stainless steel per person of a few nations.
It's a bit like oil, at the moment China and India consume peanuts, it's a scary thought, if they catch up in ten years time!
The companies on this topic who are producing, are licienced to produce money at the moment.[8D]
Nickel ¬ Jun 16, 08:24
Bid/Ask 8.7621 - 8.8075
Change +0.5788 +7.07%
Low/High 8.1833 - 8.8379
Well folks, relate this to JBM, IGO, SMY, MCR and a little too FXR as far as nickel goes. The producing ones all licenced to print money this quarter!
Oh, we can only hope that they run out of nickel, the LME that is
London Metal Exchange Warehouse Stocks(Jun 21)
Metal Tonnes in Storage Change from
previous day
Aluminum 765,000 -2300
Copper 98,575 -450
Nickel 13,872 -1236
UPDATE 1-UPDATE 1-Inco raises second-quarter outlook
Thu Jun 22, 2006 3:40am ET
Email This Article | Print This Article | Reprints [-] Text [+]
(Adds details. In U.S. dollars)
TORONTO, June 22 (Reuters) - Inco Ltd. (N.TO: Quote, Profile, Research) raised its profit forecast for the second quarter on Thursday, citing strong nickel prices and lower than expected costs.
The company, which is the target of hostile takeover bid from rival Teck Cominco Ltd (TEKb.TO: Quote, Profile, Research), said its adjusted diluted net earnings for the second quarter of 2006 will be about $1.70 to $1.75 a share, 60 percent above its profit posted in the corresponding period a year before.
Inco, which is trying to take over fellow nickel miner Falconbridge Ltd. (FAL.TO: Quote, Profile, Research) in a friendly deal, said it expects to meet or exceed the guidance it provided in April for second-quarter production of nickel, copper and platinum group metals.
The company expects to produce 295 to 300 million pounds of nickel in the second half of 2006, compared with 275 to 280 million pounds in the first half of 2006.
Using quarter-to-date per pound prices of $9.01 for nickel, Inco's nickel unit cash cost of sales after by-product credits for the second quarter are forecast to be $1.90 to $1.95 per pound, about 25 percent below the April guidance of $2.50 to $2.55 per pound, due largely to higher prices for by-products.
The miner also raised its guidance on nickel production for the full year by 10 million pounds to 575 million pounds.
($1=$1.11 Canadian)
May it continue!
Nickel market in 6,000 tons surplus in Jan-Apr 06 – WBMS
Source: Dow Jones
See also
Nickel Board
Nickel CatalogThe nickel market recorded a small deficit of 6,000 metric tons in the first four months of 2006, with reported stocks some 9,000 tons lower, according to data released Thursday by the World Bureau of Metal Statistics, or WBMS.
Mine production rose by 1.2% to 426,000 tons, with increased Canadian output levels accounting for most of the change.
Refined nickel production rose by 3.6% to 447,000 tons, with small increases in Russian and Canadian output and the reemergence of the Philippines as a producer accounting for most of the rise, WBMS said.
In April, world nickel production was 114,100 tons and demand totaled 120,900 tons.
AGM up %17 today
tax loss selling nearly over ,alot of major buyers looking at getting a share, bodes well for a massive year ahead for AGM
year ahead AGM %100-%200 MCR %30-%50 ;)
JBMURC-holds AGM-22.5 MCR-66.5