We dont have too long to wait to find out. We should be back trading by Monday.
Its a good sign that PRW are able to raise funds in this market.
The most attractive and exciting thing about PRW is its so close to production compared to other junior mining companies.
This is a post from the past that is an eye opener and very close to the facts I feel........................
Unlimited potential with this company.
Barnes Hill project: PRW are looking at a potential nickel sulphide discovery as they have found nickel sulphide signature minerals on the surface. They have some Geo guys who have found nickel sulphide in Tasmania before for other companies working on this as we speak.
If PRW find nickel sulphide this would not only increase the NPV of PRW dramatically by adding nickel metal tonnes to the project, it would allow PRW to possibly produce an acid from the treatment which they would use on the laterite nickel over time.
The other big news is that PRW are looking to produce a nickel metal, thus capturing all of the downstream profit for Proto.
PRW are targeting first production at the end of 09 which is amazing for a stock valued at these levels.
PRW Barnes Hill numbers: They are looking to produce 4000 tonnes in the first full year of production, which is more like financial year 2010, then moving to 8000 tonnes in the third year of production.
Proto can produce nickel metal in concentrate for 8000 US a tonne and sell it for say 20,000 US a tonne
The revenues/profits from this are amazing. Just do the maths.
PRW are attracting a lot of interest from institutional investors I hear and should be re-rated very soon.
Im hearing Proto is looking for much larger projects overseas which would dwarf Barnes Hill in earnings potential.
I forecast PRW to be trading between $2 - $5 by 2011 and even more with larger projects added.
Not a long time to wait really. FMG would have been a nice one to have held say 5 years ago!
PRW Price at posting:
18.0¢ Sentiment: ST Buy Disclosure: Held
