Rising Nickel Price a Boon to Miners

The West Australian reported that nickel companies are enjoying share price rises today as the price of nickel increases.

For one, Poseidon Nickel Ltd. (ASX:POS) said:

There is no current explanation that may explain the changes in the price and volume of the company’s securities; other than the fact that there has been a very strong upward movement in the nickel prices in recent times

The news outlet also states:

Other nickel miners were also experiencing share price spikes, with Western Areas up 20 cents, or 5.32 per cent, to $3.96; Panoramic Resources up 3.5 cents, or 6.31 per cent, to 59 cents and Mincor Resources up six cents, or 7.5 per cent, to 86 cents.

Click here to read the full report from The West Australian.