smy - more ni found, page-3

Basically they intersected 7.4meters@2-3% Nickel at 650meters below the surface. As cdchi1 says, you would like to see grades closer to 3% as it will be costly to mine this deep without better grades.

The current SMY resource is [email protected]%Ni.

SMY is a very good stock. Once mining begins, satelite deposits (THX nickel for example) may increase nickel output. Current projected annual output will be about 8,000t. The medium term goal is to get to 20,000t per annum. If this is achieved, SMY will be a $1 stock.

Despite the strong AUD, its hard to see nickel prices falling as well to create a double whammy for the company.