From last presentation:
"Heap leaching of 150,000 tonnes of
stockpiled sulphide ore (1.1% Ni)
commencing late 2006 will deliver strong
cash flow"; (obviously running behind schedule)
"Company is assessing 1.5-2.0 million tonnes
of stockpiles that should extend life of
operation".
Also heard at the Annual Boguns Jamboree was a significant oxide resource that is also amenable to heap leach technology.
Without the need to crank up the abacus, this represents significant value to shareholders without taking into account exploration success or the re-opening of the UG mine.
Im confident that the new board and management can deliver.
Yes, there is currently profit taking - however there are some significant announcements due which Im guessing will start flowing when the dust settle on the new Posiedon.
Unless you've got some supporting info, $1 per share is a tad undervalue.
NIA
niagara mining limited
