base metal prices small drop mass panic, page-2

view sold off I agree with you,yes the markets have been falling heavily lately but View was smashed earlier so is suffering a double impact.
We still have a reasonably high nickel price and two producing nickel mines. The market is treating View like an explorer not a nickel producer.
The announcement on friday 15 April 2005:

Potential mine extension indentified at Zone 29
hardly got a notice and even went down on the day very harsh. I think It seemed very positive and we will await more drilling results in the near future and hopefully the mine life at Zone 29 will be increased and View will earn its respect back.

Lion Selection Group own 16% of View and they are not in there for fun and games, they pick companies who have potential and follow a strict criteria before investing in any resource company.

On 03 March in an interview with corporate file.com.au MD Derek Lenartowicz has mentioned in April View will be aiming to complete access development to newly discovered ore body extensions at Carnilya Hill and from that moment on, both mines should contribute around 50% of total nickel production.
Zone 29 from 03 March 05 was producing about 80% of nickel production.

The presentation on View is worth a look at, go to ASX announcements. (Around 39 pages)

In the interview they mentioned View expects to generate between $350,000 and $1,000,000 a month in free cash flow. They currently spending around $600,000 a month on development(Carnilya Hill and deeper sections of Zone 29) and are expecting to finish the development program in 4-5 months so roughly around July 2005 or earlier with no delays and when that happens costs should reduce by that amount.

View confirmed the existence of a parallel ore body at Carnilya Hill and will further drill this ore body and test for down plunge extentions to the main Carnilya Hill chute in early May 2005 when they finish development of the decline.

At Bronzewing View is aiming to increase the size of their underground development opportunity at Orelia. Newmont conducted a Pre-feasibility study on this project and their designs reveal that there is an opportunity to mine 822,000 tonnes of ore at 5.9 grams per tonne for about 155,000 ounces of gold. (further assessment in Q2 2005)

$1.6m exploration commitment over next 6 months at Bronzewing, Carnilya Hill and Kambalda projects.
(03 March 05)

Dunlop 100% owned Dunlop desposit which has resources of approximately 300,000 tonnes of ore with an average grade of 2% nickel.
The nickel contained in this deposit has a current in situ value of 120 million.
Has the market noticed this? well do your own research
i wish View would hurry up and develop their 3rd nickel mine Dunlop.

3.4 million in cash

Experienced management team


Bronzewing production to be reassessed in the next 6-12 months.(03 March 2005)

Feasibility shows that the Cockburn and Central Pits generate a positive cash flow from a scheduled 136,000 ounces of gold.
Although the development of the large open pit has been deferred, Bronzewing still offers short term opportunities to produce significant quanties of low cost gold under current market conditions. The most advanced opportunities centre around the Orelia underground mine and a smaller version of the Bronzewing Central open pit.
View hope to develop an operation producing somewhere between 50,000 ounces and 70,000 ounces of gold per annum at a very competitive operating cash cost under current market conditions.

Well good luck View shareholders!
source: ASX announcements on View Resources