ENK recently posted news stating they have increased their reserve estimate to 590,000 tonnes of nickel, an increase of 35% over their original estimate.
The ore is shallow meaning they plan to extract it using cheap open pit methods, also they have developed a cheap technique of leaching to extract the metal.

BLT (presumably) on hearing this news have increased their stake in ENK to 8.9%.

With Nickel prices currently at approximately $15000/tonne and a market capitalisation of 39Mil surely this company is due for a sharp upward correction?

Does anyone share my opinion?

Are you saying that Ridge is currently just blue sky?

Sorry, maybe I've misunderstood/misapplied the term.

Let me be categoric: I think that Ridge is currently being rated way below its potential and that it is a multibagger in the making. The co is getting close to production on two decent-sized projects and the realisation of these ought to see a rapid re-rating of the share price. The rationale behind investing RDG is not based on wishful thinking or jam tomorrow, but rather on solid prospects.

However, I agree with you about the time factor you mentioned yesterday.

Hope that clarifies.

I am slightly puzzled that this share has been overlooked given the continuing strength of nickel ...... I used to hold this stock, and think perhaps I should get back in.

For those who may not be aware, nickel is an important and expensive element in the production of stainless steel. In fact, it is this element that is a prime factor in the price.

Somewhere on the "metals" thread I think, Dai has kindly posted a chart of the nickel price, but I can't find it ...... However, I am pretty sure i am right in saying that from a low of $8k per ton a couple of years back, it is now at a staggering $31k (down from recent all-time high of $35k)...... physical stocks have plummeted though there is now a minute uptick ..... a recent post of Dai's reckoned the price could fall to $14k in the next 12 months or so, but my own informed sources reckon it is unlikely to fall below $17k.

The tie-up with Billiton, giving psychological and actual strength to the company, should also not be overlooked.

for the charts, go to
http://www.kitcometals.com/charts/nickel_historical.html

Update

http://www.enickel.co.uk/__data/assets/pdf_file/58719/Canaccord_Daily_Letter_250408.pdf

Nice share movement today.

I remember the good days. Makes you wonder. Are 100's of AIM companies going bust? If not then on their recovery in the future traders are going to be able to make a hell of a lot of dosh.

very surprisingly, 200 dma has yet to be hit ....

greed is a very seductive siren .... thus, it is exceedingly tempting to dabble in KAH and/or ENK or similar ..... MXP (for me) proved to be a very interesting example, in that i got in late but, on the back of the impetus (and the sheep!), i managed to make and bank a decent profit ..... had i hung on, that profit would now be pretty much if not entirely wiped out.

decisions, decisions!

durrrr, that's how you have to make money in this market!! Be a follower and trade the flyers whether they look worthless or not. Buying on fundamentals was so 2006 darling! Now back to that little fictitious business of yours and make Mummy a cuppa as well ;-)))

mummy is still alive and well (for her seriously advanced age) and living in england ... pro tem i am in dubai ..... no i have not been suck(ered) in here, and shall resist doing so, at least until there is a significant retrenchment/consolidation ..... this stock just has a nasty feeling of being currently oversubscribed by the lemmings so shall prob just stay with ORE (qv) as a miner

don't tell me you're roughing it at the Burj??

Of the numerous times hubby and I have been to Dubai I've never found the urge to sit on a bulletin board on a Sunday evening!! Either you're boring and stuck in on your own or you're not there! Get yourself off to the Buddha bar you miserable old trout!

burj has no appeal at all; am trying out Al Qasr which is actually not bad, though rather over-run with tinies at the mo due to half term ..... buddha bar has been highly recommended by a genuine local (not an expat!), so may well jump in a cab tomorrow evening and go up there ..... have expensive client and expensive dinner already schduled for tonight

Al qasr very nice place, went there when it opened a couple of years ago, nice place for the lazy as one can get a boat everywhere. Best follow some of my tips as Buddha very expensive.

everywhere in Dubai is expensive, especially in Jumeirah ..... fortunately the company pays!

Proactive Investors One2One Forums

The directors of Firestone Diamonds (AIM: FDI), Emed Mining (AIM: EMED), European Nickel (AIM: ENK) and Solomon Gold (AIM: SOLG) will be presenting:

Thursday the 26th February 2009
Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB

The presentations will start at 6:00pm and finish at approximately 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canape and wine reception. Details on the presenting companies can be found below.


Register Here.

http://www.proactiveinvestors.co.uk/register/event_details/43#

If you have any problems registering or queries please email action@proactiveinvestors.com

looks like a good evening, is anyone from here going to attend?

I may do but can't guarantee it yet.

New article, very bullish!

Click HERE