In my mind, only the top 300m or so under the sand cover is significant so far as it enables an open pit. This may be a large disseminated sulphide area kilometres in LxW. If down the track the nickel is confirmed to be in sulphide form and little in silicate then that may be something even though it's only around .3% as it could be analogous to My Keith.
The deep EIS 1 hole doesn't show anything economic at depth at that specific point but shows there is sulphide from top to bottom over 1200m. For me this shows potential for further holes to zero in into nickel rich areas.
I think at the moment we are trading a little on potential, but it will only take one or two significant holes to solidify the project.
my opinion. See what tomorrow brings.
WMG Price at posting:
81.5¢ Sentiment: Hold Disclosure: Held
(20min delay)