Saxien/Hardmano The secretive aspect is frustrating.Uncle Ed IS...

Saxien/Hardmano
The secretive aspect is frustrating.Uncle Ed IS holding things back.Several posters have said the same thing.Numerous evidence to back it up.The FOX spinoff/Eds NHG nightmare/the fact that INCO drilled 2500 holes and 500 assayed 2.0%Ni OR GREATER(AEX have been drilling some of these holes sideby side to confirm the INCO accuracy - so obviously AEX are hitting similar grades.) We hear none of this.
Uncle Ed wants to size up the oxide and thats what they are doing now with 3 drill rigs.
The "boys in the know "know there is time yet.And yes the end of June could be ugly.May be a good time to get back in.
If the sulphide is 400m deep then they will mine it no problem- the oxide is already 200m and the grades improve with depth.PIL has small pockets of sulphide at400m+ and they seem to view it as minable.
As a director says - "If you want a pocket like PIL/DRE NO worries but we are not interested - we want 70 m +of the stuff".

This below is from an analyst (dont know who)

10Apr2002 AUSTRALIA: (AE) Ferret's BOURSE BEAT.
Sydney - Wednesday - April 10: (RWE) -

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ACCLAIM EXPLORATION reports its drilling program at Wingellina has yielded a 66-metre core at 1 per cent nickel and a 33-metre length at 1.1 per cent nickel.

"It's minable," said an analyst.

"It's good news, it's just another tick in the box.

"They've done a lot of work in the last 12 months and will do a lot more in the next nine.

"They are drilling deeper than Inco [International Nickel, which explored the site in the 1950s and 1960s] and finding very good extensions to mineralisation.

"Inco looked for lateritic ore bodies of a style similar to ones like Murrin Murrin.

"They are looking for sulphide nickel.

"It's a very remote area - it's near the corner of Western Australia, South Australia and the Northern Territory.

"If they keep increasing this 1 per cent oxide nickel and get some good sulphide nickel, the remoteness isn't such a problem.

"If it's big enough, they have a chance to move to the head of the queue of undeveloped nickel projects and could attract the attention of a major international nickel producer, as it has that potential.

"Scale is important, and they've increased the resource over the last year.

"There is a perception in the Australian market that lateritic nickel mines are trouble," the analyst said.

The company has just made a call on its shares: 1c per share, raising $400,000, a call the market greeted by dropping the shares by 1c today.

"They need to do a lot of drilling to bring it up to size.

"It's obvious they need funds to support the drilling program, and they have some cash and they are spinning off Fox Resources.

"I like the potential for this project to grow," he said.