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: New 43-101 explanation??

As Hoov explained previously, the 3% cutoff is for direct shipping of ore to a smelter; it requires no further processing. Therfore, maximum profits for 3% and higher grades. The rest is still economical (down to around 1% IIRC, with tradeoffs for cost of recovery increasing with depth), for sure, just less profitable. With Nickel going for about $10/lb now, that picture keeps improving.

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