hi all... just a sleeping giant here.... have heard s/price could double plus more within the next 12 months... sherlock bay nickel are sitting on a impressive resource. this is just the begining of a stellar period. once things fall into place then s/price will no doubt increase... will have completion of b.f.s shortly, plus a very very good chance of an increase in resource (13 or so million tonnes).see below. so its just starting too wake up, shortly it will be in full swing... keep a very close eye on whats happening...current s/price 9.5 cents
Western Zone Further drilling on the western zone allowed (SBNC) to announce an initial measured resource of 1.8 million tonnes at 0.5% Ni, 0.10% Cu. This resource is approximately 250 metres in length extending from 19620mE to 19870mE and has been drilled to a depth of 180 metres. This zone remains open at depth, and is also open to the east. The western resource sits some 670 metres west of the eastern resource and further drilling in the coming quarter is expected to expand on the current announced resources. Bankable Feasibility Study During the quarter SBNC announced that it had completed a scoping study on the Sherlock Bay Project, and was moving on to a full bankable feasibility study. Under the guidelines of this bankable feasibility SBNC intends to mine 2 million tonnes of ore per year, producing 8,000 tonnes of Nickel per year and 1,600 tonnes of Copper per year with Cobalt credits. At the current stage of development SBNC has a mine life of approximately 4 to 5 years. This mine life is expected to be extended as further drilling is completed. The company expects to complete the bankable feasibility during the first quarter of 2004. Notice of Intent Over the period of this quarter the Company has been completing work on the Notice of Intent to mine for Sherlock Bay. This Notice of Intent to mine has now been lodged (23 December 2003) with the Department of Industry and Resources of Western Australia.
SHN Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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