Network Metals LLC

Disregarding for the moment yesterday’s dip, things have recently been turning positive for base metals, and nickel is seeing perhaps the most significant gains as LME futures approach $20,000 per metric ton. Manufacturing data is again climbing, and all of these signs are positive for the base metals. However, perhaps the biggest sign of long-term positivity for nickel is that small- to mid-tier mining companies are beginning to bring their idled production capacities back online. Liberty Mines (TSX:LBE) is only the latest company to do so, planning to restart its secondary Redstone nickel mine at the beginning of next week. We are still skeptical about the long-term viability of a recovery in the near-term, but more and more mining projects coming back into production will certainly help to convince the market that demand could continue to rise.