snapshot

Comments on Niagara Mining Limited NIA, ~250mill shares issued, market cap at $0.365 = $91mill. NIA bought the ex WMC Windarra Nickel Project near Laverton about a year ago.
Thanks to "adjuster" for that nudge (see posts today for SHA) to have a fresh look at NIA, which I was watching well before they bought WNP, never got any, then 06 has had too many other distractions. I see NIA price has made lower highs since peaking about April. Their recent reports read just like an Expl outfit that has bought a big mothballed operation, telling us about this and that but maybe not what the big end of the market really needs to hear.
Please correct me if I am wrong but there appears to be 3 levels of resource.
[1] Surface stockpiles & dumps that NIA talk about heap leaching and according to the 29 Sept. RM Research report, the technology is available.
[2] An open cuttable resource of ~20-25,000 t Ni at just over 1%, which is also being thought about in terms of a leaching process
[3] An underground resource of say 50,000 t Ni at under 1.4%. Where is this exactly ? Underground access needs to be re-established, reserves located, mining & treatment plans formulated, money raised etc. I wonder what products from 1, 2 or 3 could be sold to Minara.

When I read the October presentation for German investors I saw a lot of "arm waving" slides but little concrete evidence of staged, detailed planning in 1, 2, 3 above. What I term, "putting the bricks in the wall". A target to aim for might be a production of say 5,000 t of Ni PA.

I am sure I will get told if this is too critical.