RE:RE:RE:RE:RE:RE:RE:RE:RE:Dumount looking to unload for 1 billion Karora bought RNC and was on board with the Nickel direction, but they accidentally came across a large gold discovery in Australia. They switched directions and sold the deposit for cheap in order to grow their gold operations. Karora is doing well and producing gold regularly now I Beleive.
I thought the same thing - this is supposed to be over a $b discovery and they sell it for that cheap? Especially since it is already permitted.
That is the only part that gives me pause as a CNC investor. Whether the mining community fully values low grade nickel deposits- even though the PEA proves it is quite profitable. In the 90s, VOISEYS BAY had a huge auction before this same stage as CNC. The majors didn't wait around before trying to buy it. I think CNC has more tones of actual nickel. So I do have some concerns if I am being honest. I know people have tried to calm me by saying that the majors are just starting with the little deposits before ours - but history shows that truly large rare deposits that they view as profitable - they don't wait around..