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Nickel Asia Corporation
#21
UPDATE 1-Philippines' Nickel Asia resumes mine operations after attack

MANILA, Oct 5 (Reuters) - The Philippines' top nickel producer Nickel Asia Corp has resumed operations at its biggest nickel mine, Taganito, after a raid by communist rebels early this week and expects to ship ore in the next three weeks, its chief said on Wednesday.

Nickel Asia, partly owned by Japan's Sumitomo Metal Mining Corp , said it does not expect a big reduction in shipment tonnage this year, adding it has started buying new equipment to replace damaged machinery.

But the company cannot determine yet if there would be delays in the 2013 target to complete a new $1.4 billion nickel processing plant adjacent to the mine, even as it expects minimal damage to the facility currently being built.

"We are pleased to advise that TMC (Taganito Mining Corp) has resumed mining operations and estimate that we can commence loading operations of our nickel ore within the next three weeks," Gerard Brimo, company president, said in a statement.

The company sells its nickel ore to China and Japan.

Sumitomo, majority owner of the processing plant, has yet to make an estimate of the damage in the facility, and has not yet communicated any possible delays in completing the project, Brimo said in a statement to the stock exchange.

Taganito was due to ship about 500,000 tonnes of nickel ore in the fourth quarter, equal to a fourth of the mine's planned total shipments this year.

On Tuesday, Nickel Asia chief financial officer Emmanuel Samson said the company would divert output from two mines to cover ore shipments from its Taganito mine.

About 500 million pesos ($11.3 million) worth of equipment and structures were damaged in the attack, and the firm said it has "more than sufficient funds" to cover the replacement cost.

Brimo said the company will not stop its mining operations at Taganito despite security concerns, and said it took comfort in the assurance by the local and national government that there would not be a repeat of the incident.

"It is apparent that the insurgents are not happy with the economic progress in this part of the Surigao province accelerated by the commencement of this project," he said.

"Whatever may have been the political agenda for this unfortunate incident, the company will not be deterred in its mission," he said.

Shares of Nickel Asia closed nearly flat on Wednesday, after falling as much as 13 percent the previous day following the suspension of nickel mine operations at Taganito.

Nickel prices rebounded 1.1 percent on Wednesday, after a sharp drop the previous day, riding on the 3.1 percent jump in copper after the Federal Reserve's pledge of more action to aid a struggling U.S. economy. ($1 = 44.085 Philippine Pesos) (Reporting by Erik dela Cruz; Editing by Rosemarie Francisco and Ramthan Hussain)

Source: http://www.reuters.com/article/2011/10/0...GA20111005
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#22
...something to read in light of its recent mines' attack...

http://www.journal.com.ph/index.php/news...-investors
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#23
Attack to delay nickel project

MINER NICKEL Asia Corp. said an attack by Maoist rebels on its Taganito mine earlier this month will push back by a couple of months the planned mid-2013 launch of a $1.4-billion nickel processing plant adjacent to the mine.

http://www.bworld.com.ph/content.php?sec...t&id=40141
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#24
October 24, 2011 | Manila, Philippines

Stock Pick
Nickel Asia Corp. (NIKL)
Recommendation: Hold

WEALTH Securities, Inc. has advised investors to hold off from buying shares in Nickel Asia Corp., saying the attack by communist rebels on its Taganito mine in Surigao del Norte early this month might pull down revenues.

http://www.bworldonline.com/Research/sto...p?id=0845a
the key to trading success is to focus on how much money is at risk, not how much money you can make.

trading is simple, but it's not easy. if you want to stay in the business, leave hope at the door, focus on specific setups, and stick to your stops.
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#25
Posted on October 25, 2011 09:52:05 PM

Nickel Asia posts 131% income hike as of end-September

NICKEL ASIA Corp. yesterday reported a 131% hike in profits for January to September versus year-ago levels, citing higher sales and stronger prices.

http://www.bworldonline.com/content.php?...r&id=40515
the key to trading success is to focus on how much money is at risk, not how much money you can make.

trading is simple, but it's not easy. if you want to stay in the business, leave hope at the door, focus on specific setups, and stick to your stops.
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#26
Nickel Asia inks deal

LISTED NICKEL Asia Corp. (NAC) has signed a deal with Chinese firm Baosteel Resources Co. Ltd. for the sale of close to two million wet metric tons of nickel ore. The miner said in a disclosure to the Philippine Stock Exchange yesterday that the volume of nickel ore under the purchase agreement signed on Monday accounts for about 50% of Baosteel Resources’ total import requirements for next year. “This represents a significant milestone for both companies, the result of a mutually beneficial cooperation between two industry leaders -- NAC being one of the largest lateritic nickel ore producers in the world and Baosteel being the largest stainless steel producer in the world,” NAC President Gerard H. Brimo said in the disclosure. Mr. Brimo said his firm recently completed the first shipment of nickel ore from the Taganito mine in Surigao del Norte after it was occupied by an armed group in October. NAC shares were unchanged at P20.30 apiece yesterday.

http://www.bworldonline.com/content.php?...s&id=42059
the key to trading success is to focus on how much money is at risk, not how much money you can make.

trading is simple, but it's not easy. if you want to stay in the business, leave hope at the door, focus on specific setups, and stick to your stops.
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#27
^^ that's 20% of their current mine output. With that secured by a long contract and good nickel price, I think NIKL has just strengthen itself to better withstand nickel price fluctuations.
The World is a Vampire . . .
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#28
ganda pala ng galaw nya since october. sayang. too busy with other stocks at hindi ko napansin ito. hay. sana dito ko nalang inallot ang position ko kay MA. grr...
buy high, sell higher!

stock market abbreviations (for newbies)
http://www.stockmarketpilipinas.com/post...g#pid11738

"when it comes to trading, i'm just barely smart enough to realize that i'm a total idiot. i might be considered stupid, but on the intelligence scale, it puts me comfortably ahead of all the dumber people who thinks they're better than me."


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#29
Posted on January 11, 2012 10:31:59 PM

Nickel Asia posts record high exports


LISTED MINER Nickel Asia Corp. (NAC) hit a record high in shipment volumes last year amid strong demand from China, a disclosure to the local bourse showed yesterday.

http://www.bworldonline.com/content.php?...s&id=44874
the key to trading success is to focus on how much money is at risk, not how much money you can make.

trading is simple, but it's not easy. if you want to stay in the business, leave hope at the door, focus on specific setups, and stick to your stops.
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#30
up ko lang po. i think new 52-week high ung 28.45 kanina. Smile
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