Absolutely excellent post Silent-Bubbles. I hope everyone here takes it on board.
I had forgotten about this development (a bit of a worry - but maybe because I am reading my new Roger Penrose book on Physics, and one's mind does tend towards scrambled egg during such times) - anyway it is great that you brought it up.
The key is that a huge quantity of costly and hard to transport sulphuric acid is replaced by a smaller quantity of Nitric, which is reclaimable.
If you watched Clive Palmer getting grilled by Leigh Sales over Queensland Nickle last night then it all comes down to an old lateritic plant with a huge appetite for acid.
There are lots of complaints here about SP falling a tick - I read that as profit taking by some long termers - I tallied up my own entries and exits last night and I find my millions of shares owe me just $276 - that is from an initial entry in early 2017 and several trades along the way. Add the profit from oppies, which I am closed out of, and CTM has been very kind to me. Now the point is that for the other blokes in that position the temptation is to sell some or all and lock in profit and lock out risk. That is perfectly normal.
I expect that overnight the 'analysts' will see huge upside to yesterdays results - proof of concept is always the first thing to establish. Other areas with higher mag signature could surprise with deeper and possibly higher grade.
I hold that view for a specific reason - and I need
@OldGeo and others to tell me they agree, or maybe, or to go back to my Penrose.
Its the presence of that swampy area - it is known that lateritic deposits take a form which is dependent on ground water - the mineralisation can be washed deeper and concentrated, or washed sideways - in our case into the swamp. I postulate that that swamp might contain a deep rich concentration of Ni - Co, which because of the topography did not get washed downwards.
Of course it might all have been washed away if the swamp drains.
Further, in areas of the tenement where there is no drainage into a swamp, there might be the deeper richer ore we pine for.
So in my mind all is good - which is normal too. DYOR.
(20min delay)