SMM did sweet FA on the lease. Couple of minerilised zones near Veranaue and one North /East of the Kolosori deposits but most of the D lease is quite mountainous so hopefull at least a good cluster of deposits like Kolosori is found. Again I am not holding my breath for a world class find at D but with the 3 leases under control a good LOM of 1.5% ni for around 15 years (say 5 for each lease) should be achieved.
At a second stage proposal, there is the option of Incor an their SALT Benefication which is increasing in value to the lower grade inferred resource of at least 20 years as the spot Nickel price increases in demand and inventories are depleted.
As you can see Kolosori was never a 50 years rolling 50 year LOM as the Cheif Ex lamented all those years ago. That's 200mt @ 1.5% minimum.
Putting this aside and moving on expect to see the SP back in the late 30cts early 40cts when the respective PL for K and D are awarded and the ML for SJ. The only uncertainty the market see's at the moment is the SAA and that bloody trough. Cashburn will need to be directed towards exploration and commissioning civil works and not directors and double dipping consultancy fees.
cheers
AVQ Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held
