Note announcement from the 2 Nov 2011 09:05 thetarget has grade...

Note announcement from the 2 Nov 2011 09:05 the
target has grade ranges of between 0.8% and 1.45% nickel, 0.4 and 0.7% copper, along with 0.01% and
0.03% cobalt. At these grade ranges, the contained metal for this Exploration Target(2) equates to
between 28,100t & 66,000t nickel, 14,000t & 31,400t copper and 770t to 1,730t cobalt..
Thus
The lower level Tonne USD per MT
Nickel 28100 18565 521676500
Copper 14,000 7820 109480000
Cobalt 770 30000 23100000
$654,256,500
The higher level
Nickel 66000 18565 1225290000
Copper 14,000 7820 109480000
Cobalt 1730 30000 51900000
$1,386,670,000

From my estimates looking at drawings and extrapolating
The higher level
Nickel 141150 18565 2620449750
Copper 42000 7820 328440000
Cobalt 3750 30000 112500000
$3,061,389,750
Note that my estimates is really a big fat guess but I like to do it as i get to see the size of the deposit and get a feel for the thing as i know company directors need to be somewhat conservative in there estimates. and they wont really promote the upside very well especially not where I have added in possible extra areas they have not even considered. but looking at the history of the old mine and using the following Analogous mineralisation outcropped at surface and was mined to 210 metres depth at a consistent diameter of between 80 and 120 metres, pertaining to the ultramafic core of the intrusion.

So as you can see i even down graded my own figures to 2 billion


Note this is really back of the envelope stuff and as i have stated quite a guess but its the upswing potential that I like to check as my investment style is such that unless there is at a chance for 10 times my capital I'm not interested in the risk and this certainly meets that part of my strategy.