Metals X Ltd (MLX) rose 10% today - the likely reasons are the strong prices for tin (over $20,000/tonne) and Rentails tin project updates .
The outlook for nickel doesn't look anywhere near as good, but its Australian nickel project promises to be a great performer too when its finally commissioned.I very much like this stock. The outlook for nickel prices dont look so good, though stainless steel consumption can be expected to be strong in the long term. Timing is the critical issue, so follow the charts because there is alot of leverage to come from a re-rating of this company. Just look at the market capitalisation of Minara Resources (MRE.ASX) and you will get a feel for the upside, notwithstanding the need for a Chinese capital injection.
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Andrew Sheldon www.sheldonthinks.com
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