THIS IS FROM CONSMIN MANAGEMENT AND MY REPLY - YOU MAKE UP YOUR...

THIS IS FROM CONSMIN MANAGEMENT AND MY REPLY - YOU MAKE UP YOUR OWN MIND
I quote from ConsMin management
“e) You refer to the Company holding 200,000 tons of contained nickel in the ground and incorrectly convert this into a revenue number. This is not a reserve and your calculation takes no account of geological or mining losses. The current resource at Kambalda is 78,560 Nickel tonnes, with reserves of 16,911 tonnes. We will be working hard over the next 12 months to convert further nickel "endowment" into resources and reserves.”
My response
“Is that true?
I say that Titan owned 130,000 tons of contained nickel in the ground. I have put the ASX listed document on website http://www.usail2.com/TITAN%20RESOURCES%20NICKEL.pdf
"Widgiemooltha Exploration and Evaluation
The Company owns the nickel rights over 227km2 of prospective and strategic tenements in the Widgiemooltha area (Figure 2) that form part of the
world class Kambalda nickel province. Nickel resources within the Company’s tenements at Widgiemooltha total 130,000 tonnes of contained
nickel metal at a 1% Ni cut off in eight separate deposits. An active exploration and evaluation program has been pursued over these tenements
with a series of positive results being achieved."
David, I have only added the figures in your own 2006 Concise Annual report. The figure of 123,000 tons is also in your report.( not the 130,000 claimed by Titan)
I also thought that the Twin Decline was planned so that it could explore and access "an estimated potential nickel exploration target of 90,000 tons"
but I did not include this because the "calculation takes no account of geological or mining losses"
So I believe that 123,000 + 78,560 = 200,000+ tons. Is this correct?
Maybe I should amend the in the ground figure to reflect the current price of nickel.
ie AUD$12.2 billion. We don't want to mislead shareholders do we.”