Lakeside, you write:
"I have been a little concerned about the projections of the world nickel market by the time we come to production in 2015/2016, but after doing some research I am much more comfortable with the outlook."
Keep in mind that this is not just a nickel play. This is the current resource estimate.
Main Zone
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Measured and Indicated resource of 11.0million tonnes grading 1.78% Ni, 0.98% Cu, 0.99 gpt Pt and 3.41 gpt Pd and 0.20 gpt Au;
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Inferred resource of 9.0 million tonnes grading 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au;
East Zone
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Inferred resource of 1.6 million tonnes grading 0.31% Ni, 0.09% Cu, 0.12 gpt Pt and 0.45gpt Pd and 0.04 gpt Au;
We've also got nickel. Look carefully at the palladium and platinum. I have to blink twice when I see 11 million tonnes of measured and indicated 3.41 gpt palladium and .99 gpt Platinum. The inferred is 9 million tonnes with 3.49 gpt Palladium and 1.16 gpt Platinum.
The current spot price of Palladium is $763.00 USA dollars per oz. The current spot price of platinum is $1772.00 USA dollars per oz.
We have just scrapped 2% of a 98% land package. What else is out there. We found the Thunderbird. We already have seen some ree's too.
That is what makes Noront so special. It is not just a base metal play. It is also a precious metals play and who knows what else will be found up there in the other 98%.
We have about 2,500,000 ounces of precious metals so far at the eagles nest.
