grades comparison

Sally Malay (PAN) posted some new drill results. Exceptional depth to their deposits but grades are well below those of WSA. Despite being a sulphide ore, PAN has break-even prod cost of about $6-7.oo/lb i.e. aprox double that of WSA. Illustrates advantage of rich grades as costs of extracting and crushing ore remain about the same.
Ni prices well down on LME tonight. Let's hope they hold above $9.oo.

Thick & high grade nickel intercepts reported on Panoramic's (Sally Malay's)Savannah project
Tuesday , 26 Aug 2008
Panoramic Resources Limited (ASX Code: PAN) is pleased to announce the latest drill results targeting extensions of the Main OreZone (MOZ) within the Upper Zone (above 500 fault) and the Lower Zone (below 500 fault). These results were reflected in therecently announced 44% resource increase (see ASX release dated 29 July 2008) for the Savannah Project.

o Excellent results from the Upper Zone (above 500 fault) and the Lower Zone (below 500 fault)
o Best drill results from the Upper Zone include:
105.63m at 2.03%Ni, 0.82%Cu, 0.10%Co
80.33m at 1.67%Ni, 0.85%Cu, 0.09%Co
58.92m at 2.58%Ni, 1.03%Cu, 0.13%Co
55.12m at 2.26%Ni, 1.11%Cu, 0.11%Co
o First Lower Zone hole hit 71.53m at 1.46%Ni, 0.42%Cu, 0.07%Co
o Drilling is continuing to test the depth extensions of the Lower Zone to 900m below surface