At Blair Dome, besides the cobalt and the new thick, low grade intersection of nickel sulphide we have the Blair Nickel Mine which closed in 2008 because of low nickel price. There is probably as much nickel remaining in the mine as has been produced to date. The grades and thickness appear to be increasing at depth. It is not economical to drill the deposit from the surface. It would require the re-opening of the mine so it could b edrilled from the bottom of the current workings. Allow a cost of $1M. This is not a lot of money in comparison to the 100,000 of nickel metal likely to b eproven, but is not feasible till there is some money in the tin from Sinclair. To operate at the depths below the current workings economically, would require the construction of an underground crusher and ore shaft to transport ore to the surface. This would be a major earner at current nickel prices.
Then we have recent Company appointments. Last year we had the appointment of a new CFO. This is the first appointment I would make if I was transitioning a company from an explorer to a mining company. The next appointmant is for a mine manager or project manager. We have two of these, one for each od Blair Dome and Pioneer Dome. This maens that PIO are confident thatit has two viable mines. It also means that three well credentialled individuals have formed the opinion that PIO has the mineral deposits to provide viable profitable ventures, after due diligence and that they will provide a sound career opportunity.
And then there are wo very substantial gold holdings, joint ventured to well resourced companies and free carried to decision to mine. I won't go on but PIO has a number of very exciting prospects ooutside what I have discussed. Mr, Crook seems to believe that whatever money PIO ahs to spend on exploration is better spent on these othe rprospects than on the two gold properties. Given his track record to date I am happy to go along with his judgement on that.
Add to My Watchlist
What is My Watchlist?