+ + data and comments + +, page-10

re: + in situ value upgrade for toomey hill projec My post 301445 mentions this:

"That is In Situ some 40,984 tonnes of nickel or at the present price of say $US12,200, some $US500 mill. or $A724mill. or say $A700 mill In Situ (before any costs)".

At present , Ni= $US6.63/lb and FX=0.6819.

Substituting these new values:

40,984*1000*2.2*6.63/0.6819=$A876 mill, say $A850 mill. compared with the previous $A700 mill.

Remarks. CGM could either try to recover the 40,984 tonnes based on 1.09% nickel and 0.077% cobalt (cobalt is expensive) or because of higher nickel prices, could afford to drop the tonnage somewhat but with a greater percentage of Ni.

I think they would prefer the first choice and more so if Ni values rise.

CGM wants to have the ore treated by Minara (See previous posts) and that is subject to any agreement.

Gerry
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