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| FERRONICKEL Chart |
- Resistance: 2.44 / 2.99
- Support: 1.79
- Buyers > Sellers
- MACD showing some divergence signal
- RSI now at 53.5%
- Double bottom
Latest News
Clarification of news article entitled “FNI acquiring China nickel processing plant” posted in Manila Bulletin (Internet Edition) on April 2, 2015.
We refer to the news article entitled “FNI acquiring China nickel processing plant” posted in Manila Bulletin (Internet Edition) on April 2, 2015. The article reported in part that:
“Global Ferro Nickel Holdings, Inc. (FNI), the third biggest nickel producer in the country, is acquiring a nickel processing plant in China for the further processing of nickel ore from its mining operations in the Philippines.
FNI Director Francis Chua said that FNI expects to wrap up the ongoing negotiations.
Once completed, FNI will create its wholly-owned subsidiary in China.
However, Chua refused to divulge the acquisition cost of the Chinese plant, but said it is substantial enough.
The China plant has an estimated annual processing capacity of at least10 (sic) million metric tons of ferronickel ore.
. . . .”
By way of reply, we say that the acquisition is still being discussed. Required disclosures will be made by the Company in due course.
Source: PSE EDGE
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