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Sally Malay rides high on nickel
30-August-07
Written by Mark Beyer
Strong nickel prices and a big increase in production volumes have enabled nickel miner Sally Malay Mining Ltd to record a 453 per cent increase in net profit after tax to $88.1 million for the year to June 2007.
Sally Malay joins Western Australia's other major nickel stocks, such as Minara Resources Ltd, Jubilee Mines NL, Independence Group NL and Mincor Resources Ltd in reporting sharply higher profits.
The nickel price has tumbled from the peak it reached in mid 2007 but is still well above the levels that prevailed in recent years, which augurs well for the sector.
Article continues...
30-August-07
Written by Mark Beyer
Strong nickel prices and a big increase in production volumes have enabled nickel miner Sally Malay Mining Ltd to record a 453 per cent increase in net profit after tax to $88.1 million for the year to June 2007.
Sally Malay joins Western Australia's other major nickel stocks, such as Minara Resources Ltd, Jubilee Mines NL, Independence Group NL and Mincor Resources Ltd in reporting sharply higher profits.
The nickel price has tumbled from the peak it reached in mid 2007 but is still well above the levels that prevailed in recent years, which augurs well for the sector.
Article continues...
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