Very pleases that Nickel assets are getting recognised, but the...

Very pleases that Nickel assets are getting recognised, but the REAL VALUE here is the iron ore.

They have effectively confirmed 30mt.

The deposit could easily be 70mt.

Lets say for the say of this, it is 45mt.


Cost of extraction has been independently confirmed at $7.60pt

Spot iron ore around $70.

Using Spot iron ore of say [to be conservative] $55 and other costs of $20pt,

then project alone valued at:

45mt*(55-20-7.60)

=45mt*27.4

=$1.233BILLION dollars.


Plus, INFRASTRUCTURE ALL AROUND IT [BHP,RIO,FMG...]

Project will definately be developed.


All in all not bad for a $40mn minor.


As i said, stock will be $2 by end of year. Just depends on where you buy in and how much you get.


Holding for the year to accumulate plently