re: research Research report done by RM Research in Perth. I...

re: research Research report done by RM Research in Perth. I believe it is going out to the top 250 Nia shareholders and to brokers connected to the group RM Capital Pty Ltd. I've seen it today and it is conservatively bullish on nia's future.
Conclusion reads:
The preceding 6 months has capped off an impressive period for the company with two significant aquisitions. While the upcoming exploration program at Dadwen (Ghana) is bound to provide interest for the gold bugs, the acquisition of Windarra with it's 54.4kt of contained nickel, exploration potential more or less untouched since the late 80's and possible gold potential may see continued strong interest in the share price over coming months. RMR's target share price over first half 2005 is $0.35 which would value Niagara at around $1000/tonne of nickel.

Further share price upside is likely in the near term due to the following :

i. Possible resource upgrade of in situ resources at Windarra;

ii. Survey and resource calculations of stockpiled ore;

iii. Possible re-treatment of tailings that may contain up to 30,000t of nickel;

iv. Further clarification of the distribution of gold mineralisation, and

v. Sustained strength in the nickel price.

Good luck to all who hold:)