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Nickel Asia Corporation
Business Profile:

Nickel Asia Corporation (the Company) was originally formed and operated as a British Virgin Islands (BVI) company (referred to herein as “NAC BVI”) in 2006 by combining Hinatuan Mining Corporation (HMC; which owned majority stakes in Taganito Mining Corporation (TMC) and Cagdianao Mining Corporation (CMC)) and Rio Tuba Nickel Mining Corporation (RTN) under a single corporate umbrella and senior management team. On July 24, 2008, we registered Nickel Asia Corporation (referred to in this paragraph as “NAC Philippines”) with the Philippine SEC and in March 2009, pursuant to a plan of merger between NAC Philippines and NAC BVI, we reorganized to make NAC Philippines the holding company of NAC BVI’s subsidiaries.

The Company owns four operating mines, all of which are located in the southern half of the Philippines.

RTN was incorporated in 1969 to develop the nickel ore deposits discovered at the Rio Tuba mine site in 1967. It was granted rights over the Rio Tuba property in 1970 and commenced mining in 1975. RTN made its first commercial shipment in 1977.

HMC was incorporated in 1979 and was granted rights over the Taganaan property in 1980. Development of the property commenced in 1981 and the first commercial shipment from the Taganaan mine was made in 1982. The size of the property was expanded in 1983 with the acquisition of additional claims on adjacent properties. HMC temporarily suspended operations at the Taganaan mine from April 2001 to January 2006 due to depletion of high-grade saprolite ore reserves.

In 2001, HMC acquired the right to mine the saprolite ore at the South Dinagat mine and undertook to stockpile the limonite ore for Pacific Nickel Philippines, Inc., the owner of the property. HMC halted operations at the South Dinagat mine in October 2007 due to substantial depletion of saprolite ore reserves. HMC acquired the rights over the Taganito and Manicani properties in 1986 and 1987, respectively.

TMC was incorporated and acquired the Taganito property from HMC in 1987. The first commercial shipments from the Taganito and Manicani mines were made in 1989 and 1992, respectively. Operations at the Manicani mine were halted in 1994 due to low nickel prices and, with the exception of a brief period of operation in 2001 and three shipments from existing stockpiles in 2004 and 2005, the mine has been inactive since then.

CMC was incorporated in 1997 and acquired the right to operate the Cagdianao mine in 1998.

Source: Annual Report 2010
Results of operations

Net income

Our net income was P809.0 million in the three months ended March 31, 2011 as compared to P10.6 million in the three months ended March 31, 2010. Net of minority interests, our net income was P428 million in the three months ended March 31, 2011 compared to a net loss of P102.0 million during the same period last year. The net loss of P102.0 million in 2010 was largely due to foreign exchange losses amounting to P137.7 million and a derivative loss of P108.2 million, both attributable to the parent company.

Source: Q12011 Financial Report

Nickel Asia sees robust sales for rest of the year

LISTED MINING firm Nickel Asia Corp. expects its first-quarter sales and net income to be sustained for the rest of the year due to healthy nickel prices and better production.

In an interview with reporters on Friday, Gerard H. Brimo, president and chief executive officer of Nickel Asia, said that he expects the firm’s first-quarter sales and net income performance to be sustained for the rest of the year.

“I think it’s sustainable, much depend on the nickel price. It’s still at a healthy level and there is no slowdown so I guess it will be sustainable,” he said when asked if he expects the first-quarter performance of 8% growth in nickel sales to continue for the rest of the year. -- Louella D. Desiderio

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Nickel Asia sees 20% rise in sales volume

MANILA, Philippines - The Philippines' biggest nickel miner, Nickel Asia Corp, said on Friday it expects its sales volumes to increase about 20% this year, with about 60% of output going to China.

Nickel Asia, partly owned by Japan's Sumitomo Metal Mining Co Ltd, expects to sell about 10 million tons of ore this year, topping last year's record 8.3 million tons, Gerard Brimo, Nickel Asia president and chief executive officer, told reporters.

China would take about 60% of the volume, with the rest going to Japan and Nickel Asia's Coral Bay high-pressure acid-leach nickel processing facility, he said.

"China has become a major stainless steel producer so there is a lot of demand for NPI (nickel pig iron) and consequently, there is a lot of demand for the kind of ore that we have," Brimo said.

"That demand is not going to weaken anytime soon, we don't think. It's very strong."

China accounts for over a third of global nickel consumption. The Philippines competes with Indonesia in Asia in nickel supply.

"The region in general... is running low on the very high grade lateritic nickel ore, so there is more demand for medium grades, we have plenty of that. So we see demand continuing very strong in the years ahead," Brimo said.

The 33-year old company has controlling stakes in 4 Philippine nickel mines -- Rio Tuba, Taganito, Cagdianao and Taganaan mines.

Brimo said Nickel Asia was on track in the construction of its $1.4 billion Taganito hydrometallurgical nickel processing plant set to come on stream in the second half of 2013.

The plant has an annual capacity of 30,000 tons contained nickel and 2,600 tons contained cobalt and is currently considered to be the single largest investment in the Philippine mining sector.
I hope Gina Lopez finds other things to do soon rather than making noise against mining in palawan. I mean somebody call her and give her avon catalogues! haha!
The World is a Vampire . . .
Nickel Asia posts 70% increase in metal shipments for H1

NICKEL ASIA Corp. yesterday reported a 70% rise in the value of its first-half nickel ore shipments versus year-ago levels amid improved market prices.

The estimated value of the shipments amounted to P5.1 billion, up from the P3 billion in the same period a year ago, the miner said in a disclosure to the Philippine Stock Exchange.

Nickel Asia attributed the higher nickel ore shipments to “continuing good demand, particularly from China, and much improved nickel prices.”

The miner also said its nickel sales went up by 24% to 4.2 million wet metric tons (WMT) of nickel ore in the first half, from the 3.4 million WMT sold a year ago.

The shipments came from the miner’s Rio Tuba mine in Palawan, Taganito and Hinatuan mines in Surigao del Norte and Cagdianao mine in Dinagat Islands.

“The company’s Rio Tuba mine and Taganito mine accounted for 74% of total shipments during the first half of the year,” Nickel Asia said.

The Rio Tuba mine shipped 1.2 million WMT of saprolite ore and 1.3 million WMT of limonite ore, while the Taganito mine shipped 484,000 WMT of saprolite ore and 101,000 WMT of limonite ore. The Hinatuan mine shipped 989,000 WMT of limonite, while the Cagdianao mine shipped 103,000 WMT of saprolite. Nickel Asia shares closed P0.20 lower at P19.70 apiece yesterday. -- Louella D. Desiderio

Oh no!, Rio Tuba began down scaling operations due to a court order. Being NIKLs' biggest supplier of ore, this would definitely bring downward pressure on NIKLs' stock price. Hmm... might be a good entry don't you think?
The World is a Vampire . . .
...SJ, mukhang insider ka sa mga kumpanya ah Big Grin
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The World is a Vampire . . .

Bullish ako sa NIKL.. recently released this good news:

Based on TA, I think I'm bullish on this stock for the mid to long term (position trade).

Sa Daily Chart:
1.) Moving away from its downtrend
2.) Relative Strength Index (RSI) still has room to go up
3.) Has momentum based on Moving Average Convergence-Divergence (MACD)

[Image: nikl7711.png]

Sa Weekly Chart:
1.) I see a Head & Shoulders Pattern

[Image: nikl7711b.png]

Sa Monthly Chart:
1.) I see an ideal set-up where prices can go up on the next month. Recently made a bullish shooting star candlestick as of this day.

[Image: nikl7711c.png]

Twitter: @TraderTactics
ako waiting for the dips
The World is a Vampire . . .
frustrating close today... Sad... thinking to sell half of this from 15 to 20 next week... not sure...

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