83% up, page-20

cujo,

its quite easy to sum up today's announcement:

they are going to extend the current mine life at savannah for xyz years AT THE SIMILAR GRADES.

although its great news, and certainly can justify today's rise, one still needs to remember the all in cost at savannah is 6.3, so the news will be only exceptional when the ni spot price moves to 7, at the moment, looking at warehouse level, it's bit hard to put a bet on that.

so if ni spot price doesn't go up, this news will probably do the opposite as management will need capital to mine the mine that doesn't generate the profit.

however, if ni does go up, then PAN could be north of $1 in no time.