takeover target for vale, page-3

Here is the article
Vale allocated CAD$1Bn to find ore to extend the mine-life 25 to 30 years

https://www.cbc.ca/news/canada/manitoba/vale-mine-exploration-thompson-1.5362181
Vale are doing aerial surveys to go exploring for further resources to feed their Thompson nickel plant. CZN's Lynn Lake A is only 3/4 hours drive. You now understand my comments about the locals being excited. CZN will be Vale's first purchase if that nickel and copper carries grade. Spending CAD$100mn to acquire another 10 to 15 years mine life is good metrics to the likes of Vale. CZN already have a sizeable underground resource. It's cheaper and more efficient if they can purchase an open pit deposit for same cost as exploration.

The operators of the Vale nickel mine in Thompson, Man., are hoping a $1-billion investment could extend the mine's life span by 25 to 30 years.

Gary Eyres, head of Vale's Manitoba operations, said the mine's team has been stepping up its exploration efforts, including aerial and magnetic surveys, and believes there are large enough ore deposits to warrant the investment.

Eyres says he's confident that somewhere along the Thompson nickel belt is the equivalent of another mine "just waiting to be found."