News: Initiation Report: Sky’s the limit for nickel developer

• Cassini Resources (ASX:CZI) is developing the Nebo Babel nickel copper project in Western Australia.
• Cassini acquired Nebo Babel from BHP Billiton in 2014.  Since acquiring the project Cassini has increase the size and confidence level of the resource as well as releasing a positive scoping study in 2015.  Cassini has commenced work on a Pre-feasibility study which is due to be released in early 2016.
• Despite significant fluctuations in commodity prices and equity markets over the past 12 months Cassini has significantly advanced the Nebo Babel project to the point where it is now is one of the few undeveloped base metal projects in Australia with scalable production not owned by a major producer.
• We value Cassini between $0.20 (4Mtpa operation) and $0.24 (staged production option).