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Strategies & Market Trends : Winter in the Great White North -- Ignore unavailable to you. Want to Upgrade?

To: E. Charters who wrote (4353)	3/21/2003 6:34:16 PM
From: russet	Read Replies (1) \| Respond to of 8273

Canico,...Remember that it is a laterite which is cheap mining, but low recovery and more expensive smelting. This laterite is primarily saprolites. Very little Fe in the ore so high recoveries. They will use conventional electric kilns in an conventional smelting process. The matte expected to be 78% Ni with current prices around $3.00/lb. Mining and processing costs expected to be $1.35 per lb nickle and the resource estimated at 53.2 million tonnes 2.2% Ni for 2.5 billion lbs Ni with a good chance to double in size with future drilling. Currently $157 million market cap fully diluted with 33 million shares,...that's 75 lbs Ni per share with a resource predicted (with all the pertinent safe harbor qualifying statements) to double. Worth trying for some freebies.