CAPITAL MARKETS

Bullish Sally well-positioned for 2007

SALLY Malay Mining expects the nickel price to remain strong “well into 2007 and beyond” and has moved to structure its hedge book accordingly to expose 50% of its projected fiscal 2007 production, about 6350 tonnes, to the spot price.

Michael Vaughan

Bullish Sally well-positioned for 2007

In the September quarter, Sally pre-delivered 475t of nickel priced at $US9266 per tonne, meaning about 50% of payable nickel will be sold on the spot market in the 2006-07 financial year. The company...

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