Wednesday, March 31, 2004 JUNIOR explorer Sherlock Bay Nickel says it has deferred until mid-May the completion date for the bankable feasibility study at its Sherlock Bay project near Karratha in Western Australia due to bad weather, including three cyclones and a once in a hundred years flood.
Because of the poor conditions, Sherlock was unable to restart drilling in late January for pit definition and design. However, the company hopes to resume drilling in the week ahead and is finding more rigs to fast-track its program.
"It's more the notice of intent that's holding everything up," Sherlock managing director Boris Gerick said.
"With the notice of intent – which is part of the BFS – you've got to do all your flora and fauna surveys and that sort of thing. And we haven't been able to get in."
Sherlock said that other aspects of the project, such as off-take agreements and native title compensation agreements, were progressing satisfactorily.
"There will be announcements on the financial side of [the project] earlier," Gerick said.
As of November, the resource estimate at the wholly owned project stood at 9 million tonnes running at 0.53% nickel and 0.10% copper.
Sherlock Bay Nickel Corp changed its name from Central Kalgoorlie Gold Mines in December.
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Here it is again:
"It's more the notice of intent that's holding everything up," Sherlock managing director Boris Gerick said.
"With the notice of intent – which is part of the BFS – you've got to do all your flora and fauna surveys and that sort of thing. And we haven't been able to get in."
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