3.6mt @ 2% is 72,000 tons of contained nickel or about $1b worth. The problem is it could cost more than $1b to mine it so effectively its worth nothing. Grade is king, Western Areas nickel is at 4%. RXL presentation indicates that they won’t make enough money out of the nickel mine to justify the investment. They need more higher grade nickel and a mine life of about 10years. The Zinc project shows some potential.!
So let's hope they double the resource .
Ann: Investor Presentation, page-2
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