updateAfter news release I called Terry for some clarifications.First of all no promo on this release as the TO exchange has pretty tight rules.However Terry was ready for a battle on the numbers he put out but TO accepted work to date to Terry's delight.We have several properties by Inco which has proven and recorded numbers of 75mil short tons at average 1.83% nickel.The highlights are as follows.
Sechol property has and accepted 33.7 mil metric tonnes at 1.81% which calculates(33.7mil X .081) = .61mil met tonnes
Marichaj Property has and accepted 34.8 mil metric tonnes at 1.47% which calculates (34.8mil X .0147) = .5167 met tonnes
Total of both properties is .61mil met tonnes + 5167 met tonnes = 1.1267 mil tonnes X 2204lbs = 2.48 bil pounds of nickel.
Now at todays price of nickel that equates to 2.48 X $3.70 = $9.188bil (US)asset in the ground.Now minus start up and costs that would be in the area of $1.bill.Not exact but ballpark in comparing other startups.So now they have the first numbers out we still have many properties and areas to test but what a sound start.Now the question is when will they get a deal and what type and that is what takes time(but underway).They will be doing a very small PP to get them into that position and no slow downs in working while waiting for a deal.Possibilities, what did Inco pay $4-5 bill for Voisey Bay .I know not exact comparison but shows what a major could do and will do.Now look at the numbers if a major was to pay $.10 per pound or $.25 per pound ( and the major would still make a fortune)do the math as it is possible.So as for the news release may look boring and appears not knew it is now confirmed numbers where as before it was rumors.Now what do we do?I'm long as you all know so I'll be riding it out and hope to participate in the PP.What you all do is your choice as always but good luck on what you decide.
Please if I made any errors please correct me ASAP.
Jeff