nepean nickel mine, page-4

I think I called it cream, K, but icing will do.

I also wondered about milling from Nepean and went back through the old reports. FML did talk to Ramelius about using their Burbanks plant.

"During the quarter Focus Minerals commenced discussions with Ramelius Resources Ltd regarding the potential to refurbish the existing nickel circuit at Ramelius? Burbanks processing plant, located 10km north of Nepean. Refurbishing the circuit would enable Focus Minerals to produce nickel concentrate containing significant platinoid and cobalt credits. " (From Activities Report Q4 2007)

Not sure how this would play out now.

As for Paterson $20 M valuation, I've no idea (whatsoever) as to production costs but using last Ni resource estimate and current Ni prices, I get $250 odd million of Ni in the ground at Nepean. (Of course, maybe it takes $230M to get it out!!!)

Alot of prelim work seems to have been done before the Ni price took a dive (shaft refurb, new ore bin, access, trial mining approvals etc) so it will be interesting to see the numbers when mgmt announce.

As long as mgmt keep baking the cake, plenty of room for cream, icing and cherries.

Cheers,

C12