RE: More Juicy Wellgreen Results Sept/10..What exactly do they mean when they note NI % Equivalents at the bottom of the results, and does this mean that all the metals averaged together in the July 14 NR equate to 14.3 Million Tons of 1.36% Nickle Equivalent?
It's a bit confusing to a layman like myself. Anyone with a better understanding of how this works.
*Note – Nickel Equivalent is based on US metal prices of: Copper - $2.5/lb – Nickel - $7.00/lb, Gold - $600/oz, Platinum - $1,100/oz, – Palladium - $350/oz, and assumes 100% metals recoveries.
Wellgreen PGM Ni-Cu- property in Yukon. Northern Platinum (merged with Prophecy on Sep 23, 2010) drilled holes 177 – 182 during the summer of 2010. Results from Wellgreen holes 177 and 178 including NiEq% are outlined in the following table:
Prophecy's Wellgreen at 14.3Mt of 1.36% NiEq 2011-07-14 08:43 ET - News Release
Mr. John Lee reports PROPHECY PLATINUM REPORTS 1.04 MILLION OZ PGM+GOLD INDICATED AND 10.97 MILLION OZ PGM+GOLD INFERRED FOR THE WELLGREEN PROJECT, YUKON TERRITORY, CANADA |