Company DescriptionProto Resources & Investments Ltd. is an Australia based resource development company, focusing on nickel, cobalt and iron ore, while also engaging in exploration program concentrating on copper and nickel sulphide targets across Australia. The company?s main project from which it is expected to generate cash flows from mid to late 2012 is the Barnes Hill Project which has a 12.1 million ton Joint Ore Reserve Committee (JORC) compliant indicated resource at 0.83% nickel and 0.07% cobalt. Apart from the Nickel project, Proto is in possession of numerous attractive exploration targets which it is currently evaluating. Nickel?s extensive use in the stainless steel industry bodes well for its future demand as stainless steel production is forecast to reach 27Mt in 2010, an 8% increase year-on-year. It is forecast to reach almost 30Mt in 2011, primarily fuelled by the emergence of the dynamic economies of China and India. In addition, the recent additional quantitative easing from the Federal Reserve would boost Nickel prices, courtesy of a weak dollar.
thats the website
http://www.rbmilestone.com/companies/view/84
PRW Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
