SIR 0.00% $2.52 sirius resources nl

best hit yet at nova, page-36

  1. 11,209 Posts.
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    Just to summarise

    Weakly disseminated sulphide could be about 0.23% nickel, 1.16% copper and 3.9g/t silver
    Massive Sulphides could be 5.1% nickel, 2.35% copper, 0.15% cobalt and 4.0g/t silver.
    The stuff in between the weakly disseminated and massive sulphide segments is possibly somewhere in between with bankable nickel and copper and fairly helpful silver. The reason I am proposing this is simply putting together the following three Announcements as follows. (Note that holes 37 and 55 are roughly about 75m apart).

    BTW - The great thing about having (say) higher grade ore containing (say) 25,000 tonnes of Cu/Ni is that it allows you to blend with another huge pile of lower grade ore containing say 100,000 tonnes of Cu/Ni. This helps keep everything within spec during concentrate production, and make more $ out of the lesser quality ore (that probably needs to be shifted anyway).
    So can we start to expect that we do have about 125kt of useful Ni/Cu here on what we have so far? I'm not sure what margin could be made on that after all costs. At (say) $2500 per tonne profit margin (on Cu/Ni) that will be worth approximately the current market cap of SIR right now. However the margin should be much higher than that. Seems likely we will keep finding more too.

    Today's ANN had drilling of (SFRD0055)
    The intersection is as follows:
    14.3 metres of weakly disseminated sulphide from 278
    metres, followed by;
    38.6 metres of strongly disseminated sulphide from 292.3
    metres, followed by;
    23.7 metres of net textured to matrix sulphide from 330.9
    metres, followed by;
    11.9 metres of massive sulphide from 354.6 metres.

    the Ann dated 27/8/12 (SFRD0037) had
    5.9 metres of disseminated sulphides from 262 metres, then;
    3.9 metres of stringer and breccia sulphides from 267.9
    metres, then;
    5.4 metres of massive sulphides from 271.8 metres, then;
    4.4 metres of breccia and stringer sulphides from 277.2
    metres.

    The ann dated 18th Sep had assays for the drilling as per Ann dated 27/8 (SFRD0037):
    4.5 metres @ 0.23% nickel, 1.16% copper and 3.9g/t silver
    from 263.9 metres, followed by;
    13.3 metres @ 3.9% nickel, 2.0% copper, 0.12% cobalt and
    3.7g/t silver from 268.4 metres, including;
    7.15 metres @ 5.1% nickel, 2.35% copper, 0.15% cobalt and
    4.0g/t silver from 271.9 metres.

    I've been complimented recently that I know enough to be dangerous. DYOR

 
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