Inco had a good rally then fell back and is on the move again. I think this rally has legs,and by Christmas the decision will not be to take a capital loss but are you ready to pay the tax on the gain? Opinions
Inco is looking good. The demand for nickel is up. London Metal Exchange inventory is going down. Asia demand for nickel is picking up. The Austrailians are not doing as well as originally advertised. And the Russians are supplying less nickel. If the price of nickel goes above 3 bucks a pound the stock is going to take off. Right now, it's at 2.91 a pound. Here's hoping.
A lot of the new Australian production coming on line is from lateritic ore, rather than sulphides as in most mines. It uses new technology for the recovery process and there have been a lot of teething problems with the pressure leaching processes. Supposedly will turn around in the next 6 months. wish.
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