Thanks for that Bandalup2, I’ve getting a better picture
I agree with your thoughts on previous “ineffective” exploration. WMC had worked the sites on Windarra for 17 years (to 1991) and had put a number of exploration holes in both coys sites. They had mined 129k tonnes of Ni so they obviously knew what they were looking for and where to find it!
Can’t seem to find any assay results from previous drilling - must be low or they would have trotted them out by now.
Having said that NIA counter (and perhaps rightly so) that the advances in exploration techniques namely TEM, low level aeromagnetics and advances in geological concepts since the 1980's have identified new targets
Certainly the main factor is the current Ni price being 10 times that when the operations were closed. This should provide considerable margins today. Better processing and recoveries as well as they are going back through the low grade stockpile.
Interesting, does NIA need “Andrew Forrest” or is it the other way round. I can only assume that he does see some considerable value in Windarra because there would have been a number of other vehicles or strategies he could have engaged to get into Ni.
Wheres this leave MMB? I wonder whether they will fast track drill plans? with MMB's market cap there will certainly be plenty of leverage if NIA keeps updating the market with nice assay results
MMB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
