On second thought, here is the whole translation:
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Jean Nickel [16.94 -3.42%] of domestic reserves and concentrates have relatively limited output growth, the company in 2009 to seize the international financial crisis, low-cost offshore resources involved in M & A integration, the company used this additional funding to further development and use of overseas resources, the company's future lay the foundation for rapid development.
With the company's overseas development and utilization of mineral resources, the company concentrates the next 3-5 years increased significantly self identify. Wealthy domestic ore mining companies and large main Ridge mine is expected to yield relatively stable; Tonghua Jean renovation project completed 10 years of mine ore production is expected to reach 1,400 tons, 11 years to reach 1800 tons; Canadian Liberty MinES Inc. Is expected to fine 10 years of nickel amounted to 3,500 tons of mineral about 11 years is expected to further increase to 7,000 tons; Canada Wong mining ore is currently being built, is expected to begin pilot production of 11 by the end of 12 years contribution to the production. Canada and Australia MEtallica Victory Nicle concentrate production is increasing the company's future protection.
Downstream stages of production the company can be significantly increased. With 15,000 tons of nickel series reconstruction project is completed, the company high-nickel matte production to increase from the current 08,000 tons to 23,000 tons; 4,000 tons of nickel chloride technology projects are also put into operation; 5000 tons / year of electrolytic nickel production line test has been completed Production is expected to contribute 10 years to 3,000 tons of electrolytic nickel production.
Nickel carbonyl and iron carbonyl is expected to further expand production capacity, will become the new profit growth point.
Company 2,000 tons of nickel carbonyl products with high added value and lower production costs, the company will be expected to choose the capacity increased to 4,000 tons. 1,000 tons of carbonyl iron has been completed and trial production, and achieved good results, the future of carbonyl iron production capacity is expected to increase to 2,000 tons. Carbonyl products the company is expected to become a new growth point of future performance.
We maintain our recommendation of investment grade. The actual situation of this issue because we had expected and there are some differences, we also minor adjustments to the nickel price forecast, we fine-tuned fully diluted EPS 10-12 years was 0.48,0.75,0.95 yuan, the company marked the next 3-5 years to determine the self concentrates incremental and high-end products is expected to significantly enhance profitability, we recommend the maintenance of investment grade, the next 6-12 month target price of 22-24 dollars.
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