Wyatt result was as expected. There is absolutely no fundamental reason that necessarily links a nickel containing saprolite orebody to an underlying or source body of semi massive or massive nickel sulphide. The vast majority ( on a global scale) of nickel bearing saprolite orebodies are not associated with underlying significant nickel accumulations. Said it before and am saying it again.
Petrographic analyses of the saprolite would identify the type of ultramafic and enable a better understanding of the nickel phases within the ultramafic prior to its weathering leading to the nickel supergene. We don't know if this was done earlier on ( as other junior explorers have done at labs in Perth), but if it was done then I don't recall any report on this from G88. This always worried me. Nickel sulphide does not in and of itself need to be present in the ultramafic to have a nickel bearing saprolite. There are other original nickel phases that more commonly lead to the nickel oxide in the weathered orebody.
As to the JORC, does not matter what they come up with, be it 10 million or 50 million or more tonnes at 1 or 2% Ni. Ore treatment costs on-site for saprolites are horrendous ( refer to CLQ's and the huge negative impact on its share price when the capex became apparent). If the G88 orebody proves instead to be DSO grade ( Direct Shipping Ore grade) then where will it go. Nearest operating plant is near Leonora at Murrin Murrin, that's 800kms away. Now factor in the trucking costs for only a 1% - 2% Ni grade, and the return journey, not to mention treatment charges.
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1.0¢ |
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Mkt cap ! $5.442M |
Open | High | Low | Value | Volume |
1.0¢ | 1.0¢ | 1.0¢ | $2K | 200.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 548016 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 0.010 |
12 | 1816620 | 0.009 |
18 | 7322000 | 0.008 |
7 | 3279713 | 0.007 |
5 | 1459660 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 548016 | 6 |
0.012 | 90909 | 1 |
0.013 | 384615 | 1 |
0.014 | 303571 | 1 |
0.015 | 1500005 | 2 |
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