a view from the rat

DD,
This is the thread I swapped from the INL area of Hot Copper.

Your comments are in quotes.

"JRV have 400,000oz which at current prices of A$1190 is maybe not such a millstone and perhaps may interest a JV partner."

I have recently finished a stint at a mine where they have been mining gold plus other minerals. They have not made a profit for a two years due to various conditions existing that effect the ability to process the ore economically.

Score so far is -$28m to mother earth, mining company 0.

Having a JORC resource does make all the planets come into line for a mine and the material become economically recoverable.

"With the weak Aussie dollar, nickel is about $A20,000 tonne which is not a bad price (it has been around $A18,000 this year)."

Nickel is in serious decline and has been for the last year, while LME stocks are now at 5 year record levels. Thats why I say Nickel stinks. It will probably be the lowest 1/3 of producers that could contine to survive economically in the current climate. New operations that are using any new leach process really have the job in front of them.

There are also unmined nickel orebodies around running 10% Ni that can be brought into play quickly when prices improve. Any new low grade high volume venture has to be able to compete economically with the more compact traditional mines and processes. I still remember Murrin Murrin with a shudder.

For me its Nyngan area that is more interesting with JRV. I will continue to follow their progress occasionaally.