Unless I missed it, I don't recall seeing any figures with a "PROVEN" Jorc category status. Without getting into semantics, if there are 50,000 tonnes of proven Ni in the ground, I imagine the share price would be quite a bit higher than around 6-7 cents, especially now that the Ni price has increased significantly since the brokers, Argonaut released a back of envelope calculation some time ago and having identified significant PGE grades as accessory mineralisation.
There might be a total of 50,000 tonnes of Ni scattered within the Mt. Alexander prospects as you selectively highlighted, but are they economically minable? if not, they cannot be classified as a proven resource; at least not as I understand the JORC requirements.
Cheers,
Helmenesh.
SGQ Price at posting:
6.6¢ Sentiment: Hold Disclosure: Held
