TBH like 99% of global Ni projects, Rana has been looked at and picked over many times in the last many decades. What the world needs is a new Ni story (and a price rally). Rana is not it. Too difficult on many levels.
And costly, last 5B shows a AUD$4MM burn...
Good deal with BHP but that ground looked over a few times before as well. Will take a long time to crystalise any value at all in that lot, won't it? Holding costs won't be small either, like Rana etc.
As for Penikat, it is certainly intruiging, but OK were a good outfit, it's v. well known, and its been ages on the back-burner, it's gone through multiple PGM cycles with no progress. So again, you need to ask why that is? Will it ever get off the ground?
Management seem not to think so either? - even looking at opportunities in the Katangan or in the Balkans appears a bit irrelevant really, There's history in Balkans as there was in Armenia - all these things were well known to the Sovs and underdrilled before mining began, so great opportunities for western companies to go in do a bit of modern work and away to the races, claiming excellence.
More difficult nowadays. Sure they have an excellent treasury and great support.
Still undecided personally. Open to logic though.
IMHO and DYOR, but regardless GLTAH
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