Magna Mining Inc V.NICU

Walking Into A Tough Saloon? (We C.....)

[RatPatrol]

Hours ago, Magna released a technical report on reserves of its recently purchased McCreedy
West Mine. It's a well-written report of an operation that was profitable until 1998.
                                      Thereafter it closed
                                                Only
                                 To be reopened when
                      Nickel prices rose above $15,000 per tonne.

THAT IS WHERE WE ARE AT TODAY FOLKS.
There are reserves, to be sure, and the consultant suggests more drilling might find more ore close by.
                                             BUT
                      It's ALL about making money.
I doubt there will be much mining here with nickel prices below $20,000 per tonne.
My view is that KGHMI, a big profitable mining outfit, sold McCreedy
rather than return it to care and maintenance.

BWDIK?? DYODD