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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (6000)	9/4/2007 10:42:27 AM
From: LoneClone	Read Replies (1) of 194223

Value of Vietnam nickel mine probably higher NZPA \| Monday, 3 September 2007 stuff.co.nz Listed mining and energy investor Widespread Portfolios has upgraded the economic value of a proposed nickel mine in Vietnam in which it has a stake. Widespread has a 13.4 per cent stake in Toronto-based Asian Mineral Resources (AMR). Last week AMR reported the results of recently updated feasibility studies on the Ban Phuc mine showed its 90 per cent share of the project might now be worth $US172 million ($NZ249.7m). "This compares favourably with the equivalent 2005 bankable feasibility study economic value of $US80m," Widespread said. It said that if current commodity prices were maintained, the forecast capital costs of $US62.1m were expected to be recovered in the first nine months of operations. The figures relate only to the small, high-grade massive nickel sulfide deposit which contains 38,700 tonnes of nickel in situ. A neighbouring deposit of lower-grade disseminated nickel sulfide had not yet been the subject of detailed study. Widespread Portfolio shares were trading down 0.1c to 1.6c in mid-afternoon trading.

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