That last announcement has bought a lot or nervous fence sitters back into the market.
Nickel will be a positive and should be included in MLS valuation. 30% free carried.
SHERLOCK BAY NICKEL PROJECT Budgets and schedules are being developed for the metallurgical testwork and heap leach trial to support final process design and engineering. A Project Director and technical staff have been appointed and work has commenced on the project. The engineering team has been shortlisted and is expected to be appointed in the coming weeks. The environmental approval process has recommenced, from when it was halted last year pending acid testwork results, and an environmental consultancy group re-engaged to finalise the approvals. EXPLORATION PROGRAM The Company’s exploration program has been ramped up across all tenements with expenditure of $2M budgeted over the next 15 months. With the recent granting of Copper Bore Well (copper, silver, uranium) and Mt Salt (uranium), the next stage of exploration can commence. Similarly, exploration programs for Cat Camp (nickel sulphide and laterite), Andover (base metals) and Sherlock Bay Extended (base metals, 70% ownership with Metals Australia Ltd) and Sherlock Bay leases have been completed for implementation in 2007.
MLS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
