Chesbar Resources- CBI Montreal Message Board

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Gold/Mining/Energy : Chesbar Resources- CBI Montreal

CBI 16.39

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May 11 5:00 PM EST

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To: Enigma who wrote (943)	5/14/1999 12:01:00 AM
From: stubbs	Read Replies (3) of 980

I have been reading for the last month about Laterite nickel deposites.What I have found out is we are very high in the ni %(Remember most include cobalt we havent as of yet).I'm waiting for a reply from a buddy in the industry to get us some info mostly on the new process of pressure acid leaching and how most analysts feel this process is the best thing since sliced bread.When heap leaching came into the gold market it too was met with criticism and a few bugs to work out.I have a few links from some Australian companies presently using this method.But if you do a Internet search on Laterite deposites you will find many.This is one good site "http://www.argo.net.au/tonyc9/Nickel2.htm" While I'm waiting for my buddies update I would like to clarify that in know way we are leaving VENEZULA.Drilling should start early next week if not sooner on the Anococo property.Chesbar didn't put out the numbers as I would have liked as some probably now think it is no big deal(and I dont blame you)but I believe they want to prove it slowly then meet the critics saying no way.They feel this one property is believed to be world class and they have their finger on more neighboring properties.Until I hear back take the time to do the following number crunching. Using 2% ni and 15,25,35 million tons and ni @ 2.40US what is your calculations (oh ya and 70% ownership).Some of the companies are producing under $1.00US with acid leaching and with some cobalt.Just remember I'm giving you these numbers not CBI so dont call and say stubbs said this or that I'm trying to be helpful here.Just use it as a reference and hope that its darn close. Stubbs Again sorry for any spelling as I still havent figured out how to paste from Works to here.

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