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- 3 July 2009
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I think your long term nickel punt, will play out fine tinhat.
http://www.kitcometals.com/charts/nickel_historical_large.html
I think your long term nickel punt, will play out fine tinhat.I bought some PAN today @ $0.36 based on what could be viewed as a cup and handle and an inverse head and shoulders pattern in the chart. Looking for a short term trade.
I sold out of PAN not long after I bought on news of delays and cost overrun on their underground project. I understand that further delays were recently announced to the market. I'm holding WSA, IGO, SGQ, MCR and ARL. I've got an order in the market for some more WSA should the price pull back and fill that gap.
Tinhat have you looked at NIC the only independent nickel producer on the asx that’s not in your list.
Hi Padowan, I've given NIC a miss because;
a) I'm not interested in the location of their operations, Indonesia. I worked for a brief while in Indonesia in the early '90s and I love the place and the people, but I had a disappointing experience with Finders Resources which developed a copper mine and electric winning plant in Indonesia and once it got established the Indonesians basically forced a hostile take-over. We shareholders weren't left with much choice but to sell. I made a decent return but it should have been a lot more. I am not saying that is going to happen to NIC, but for me, once bitten...
b) I've decided to stick to Nickel sulphate miners rather than Nickel laterite for the time being. Without actually knowing a lot about Nickel processing economics, it seems for the time being that Nickel sulphate suitable for the electric battery industry has a lower cost of production and higher value.
As Tinhat said Padowan, sulphate is a better bet, due to demand for batteries which will happen regardless of economic outlooks.
That isn't the case for stainless steel, it is very linked to consumer spending, in an economic downturn stainless gets hammered.
Also as tinhat mentioned Indonesia is a difficult place to mine, they have already confirmed the banning of nickel exports from 2020, so it would be a brave person indeed to gamble on that not happening.
https://www.reuters.com/article/ind...es-nickel-ore-export-ban-decree-idUSL3N25W0VF
By the way, it is good to see a new member, hope you enjoy the forum don't be afraid to ask questions.
Never think you have nothing to contribute, everyone has some knowledge that others don't, that is why it is important to ask questions.Thanks sptrawler. Members definitely make this forum very informative.
I’ve been spending my early time here trying to absorb a lot of information from past and ongoing threads.
I must admit I realise now that I know a bucket load less about the market/trading than what I thought I did when I joined, so don’t have a lot of value to contribute to the majority of threads I’ve been tracking.
I still have the aspiration to develop a mechanical trading system that beats the returns of my superannuation fund as a minimum that I have the confidence to trade
They must be feeling the squeeze IMO. Hopefully they can get through to the new ore body.At sub 20 cents this is looking like a reasonable price. Except they keep moving the goal posts.
With a change of control being considered in the most recent press release and debt waivers being required it would appear PAN days are numbered. My guess is Zeta or WSA are going pick them up maybe black mountain?. IGO must have known exactly what was happening.
Panoramic Resources could be back in play, as Andrew Forrest’s Squadron Resources builds a stake in the WA nickel miner. It is understood Squadron has been buying for the past few weeks, following the failure of Independence Group to get its $312m takeover offer over the line early this year, and is sitting just under the 5 per cent substantial shareholder notice.
Panoramic is believed to have had informal discussions with fellow nickel producer Western Areas since the IGO offer lapsed and its data room closed, but nothing firm has resulted.
The iron ore billionaire’s move into Panoramic may be part of a broader play in the nickel sector, given Squadron and Forrest Family Investments also dropped about $8.7m on extending their position in Mincor Resources between December and February, increasing Mr Forrest’s stake in Mincor to 8.5 per cent, from 6.2 per cent previously.
Expecting a premium for the asset could be a problem IMO, I can't see anyone offer much, in the current climate. Just my opinion.PAN has come out with a Response to Media Speculation
"It remains in contact with third parties... nothing may come out of these talks ...."
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