if you have a look at the lastest report things are looking very good.
(SBNC) announced an up grade in the measured resource from the previously announced 4.2 million tonnes at 0.53% Ni, 0.10% Cu to 9 million tonnes at 0.53% Ni,0.10%Cu. This provides an in-situ metal content of 47,700 tonnes of Nickel and 9,000 tonnes of Copper.
further drilling in the coming quarter is expected to expand on the current announced resources. Bankable Feasibility Study During the quarter SBNC announced that it had completed a scoping study on the Sherlock Bay Project, and was moving on to a full bankable feasibility study. Under the guidelines of this bankable feasibility SBNC intends to mine 2 million tonnes of ore per year, producing 8,000 tonnes of Nickel per year and 1,600 tonnes of Copper per year with Cobalt credits. At the current stage of development SBNC has a mine life of approximately 4 to 5 years. This mine life is expected to be extended as further drilling is completed. The company expects to complete the bankable feasibility during the first quarter of 2004. Notice of Intent Over the period of this quarter the Company has been completing work on the Notice of Intent to mine for Sherlock Bay. This Notice of Intent to mine has now been lodged (23 December 2003) with the Department of Industry and Resources of Western Australia.
SHN Price at posting:
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