It was an interesting conference, especially if you are an AGM...

It was an interesting conference, especially if you are an AGM holder. Ian Levy was the first up speaker and gave a pretty good summary of how AGM is doing. The most positive thing was the ball mill, bits and pieces have started to arrive, two weeks ahead of schedule. This is great news! He also made the point that the advantages of being a Tassie based mine really outweighs the WA based ones, not to mention the ore body type and size. This was picked up and acknowledged by a couple of other CEO whom presented later.

The two other producers IGO and FOX Resources also painted a pretty rosey picture of how they are doing. FOX might not be a bad one to look into. They just announced a deal with De Beers to explore their surround areas, with De Beers' huge database, they stand a good chance of finding other resources like iron ore, CU etc. De Beers gets to keep diamond and Fox everything else with a 2% royalty fee.

The other presenters were more hopefull of finding ni rather than actually producing anything in the near future. Gladstone Pacific is planning to build a $2.5B laterite ni mine by 2010 to supply 10% of the world's ni! I can only wish them luck in getting project in on time and on budget!