Brilliant Mining Corp. hit an all time high of $2.85 on May 4th, reflecting strong gains in base metal prices last week.

 Nickel rose 10.6 per cent to $51,550 a tonne, after hitting a record at $51,600 Friday.
 Available stocks are still critically low at 3,354 tonnes while continued supply tightness is expected after disruption at the Voisey Bay nickel mine in Canada.

 Michael Widmer of Calyon  reported to  FT.com that stainless steel producers will cut output this year but this will not have a significant impact on nickel demand. He continues to say  that Calyon raised its 2007 average nickel price forecast from $34,580 to $44,080 and expects prices to average $50,000 in 2008

Base metals strength also inspired gains for gold, up 1.1 per cent to $688.50 a troy ounce this week.
Source: FT.com Financial Times
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