just a reminder - and consider the cost of exploration. While we...

just a reminder - and consider the cost of exploration. While we will do some drilling, we know where to drill. So its not hard to upgrade to JORC.
So the cost to find this resource here on justifies our MC. ie how much drilling and exploring would you have to spend anywhere else to discover, and then jorc this.


"The Isabel and San Jorge Island lateritic deposits were evaluated by INCO and Kaiser over the last half century and they estimated historic non-JORC resources of 159 million tonnes at 1.045% nickel and 0.07% cobalt. Interestingly this evaluation only goes down 5.5m from the surface – with this already large deposit open at depth.

- If Axiom wins the case, they hold a Prospecting Licence and will be able to move quickly to complete a resource and reserve update to comply with JORC standards and apply for permits to proceed on a fast track to mining operations.

- The Isabel resources commence at surface and are located next to a prime site for a deep water port. Very low cost mining operations can be initiated with direct shipping of ore to Asian refineries. This should be very profitable as nickel prices have increased by 50% in the last few months to over US$9.00 per pound, and are forecast to go higher."