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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: tyc:> who wrote (33652)	2/22/2007 6:30:16 PM
From: koan	Read Replies (1) \| Respond to of 78416

RNG, I just ran across it and came over here to post it. 45 meters good lord. RNG is unhedged Here is the LME nickel warehouse stats. At the beginning of 06 there was 40,000 tons of nickel. We now have only 3,000 tons and two thousand of those are alread bought. So 1,000 tons of nickel left in LME. Price of nickel over $19. kitcometals.com And the project was deemed feasible onn $2.99 lb nickel! RESERVES/RESOURCES The "base case" pit design undertaken by Metallurgical Design and Management (Pty.) Ltd. (MDM) contains a open pit mineral reserve of 14.6 million tonnes at 0.66% nickel, 0.46% copper and 0.47 g/t PGM with a strip ratio of 5.4:1, using a nickel price of $2.99/lb and a copper price of $0.73/lb. Reserves and Resources Chart Underground development and infill drilling With the existing drill hole data showing apparent increasing grades below the designed open-pit, the Company developed a 2,700 metre ramp which was completed in 2005. This enabled an underground infill drilling program that confirmed the geometry, continuity and the grades of the main mineralized zone. It has also allowed drilling to search for the extensions at depth and laterally. Infill, step out and exploration drilling both from underground and surface has continued during 2006. A new reserve model is in progress. The exploration drilling will target higher grade mineralization at depth and laterally. Home // About Us // Operations // Corporate Resposibility // Investor Relations // Contact Us © Rio Narcea Gold Mines, Ltd. 2007