HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: BNN , Promo
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But you still use that figure ($600) for in situ. Just like you would use the actual gold price for calculating in situ on a gold deposit. That's why you discount it to 10% at an early stage of exploration to account for all unknowns, transport, infrastructure etc.

I think it was Julian Barings who devised this rule of thumb.

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