Any thoughts on MACA paying $2m for 13.51% of Cassini Resources...

Any thoughts on MACA paying $2m for 13.51% of Cassini Resources which is a pre-feasibility Nickel/Copper project in WA??

It looks like a great project being open-pit and originally a copper project which is now transitioning into a Nickel project with Copper as a by-product.

The Nebo-Babel Scoping Study confirms the economic viability of a future mining operation under different mine production and processing rates with preferred scenarios of either a 4Mtpa Case or Stage Case (1.5Mtpa ramping up to 4Mtpa) operation. Cassini will now commence with the Pre-Feasibility Study (PFS) which is expected to be delivered by the end of CY15, with Definitive Feasibility Study (DFS) anticipated in Q2 CY17 for investment decision and potential funding in late CY17. At this stage, assuming favourable studies and funding, first nickel and copper concentrates could be produced in late CY18.

The average strip ratio of the Staged Case (LOM) is 2.7:1 (wastere) and the average strip ratio of the 4Mpta Case (LOM) is 2.8:1, which compares to our pre- scoping assumption of a strip ratio of 4.5:1. The processing flowsheet is conventional crushing, milling and two stage of flotation with filtration to produce separate nickel and copper concentrates. All mineralisation types are capable of producing saleable concentrates. The nickel concentrate is expected to be smelter friendly (clean with Fe:MgO ratios >6) and the copper concentrate is also high-grade with low impurities. Recovery enhancements and potential grade improvements are expected as development studies progress.

My thoughts are it is interesting that we have a mining services company that is investing in mining projects - I just wonder where MACA's company direction is. As well as there has been no update to shareholders from MACA into their thinking behind the $2m investment.

I'm a long term holder for the share as great management and always delivering as a company - but I think a bit more openess on their strategy could be good.

DYOR