Heres a rough estimate of the value of the resource of Anglo-Americans Jacare deposit in ground value using the following valuations:
Nickel LME price US$14,000
Cobalt LME price US$91,000
Jacare deposit 307 Million tonnes @ 1.3% Ni and 0.13% Co.
In ground Ni Value = 307,000,000 x 1.3% x 14,000 = US$55.8 Billion.
In ground Co Value = 307,000,000 x 0.13% x 91,000 = US$36 Billion.
Jacare deposit extends for over 15 Km of strike. CTM Itapitanga resource has 5km of strike so about 1/3 of the resource size potential.
What would 1/3 of Jacare deposit resource be worth? Anyone still think that Itapitanga isn't potentially a Company maker?
Ann: Salobo West Drilling Licence Update, page-69
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