I'm using the price of nickel at $25,000 per ton and the inferred
at 30 million tons @ 1.34% with a 74.30% recovery giving us a total metal recovery at 303,000 tons of nickel !!
and 303000 t(US) = 606,000,000 lb at $11 todays rate = $6,600,000,000
I did it
roughly but I used a metal calculator that spits out the lower value! and this is with current prices and Crowflights numbers from their news releases!! WOW!!
Now add the rest of CML Manitoba claims
and Sudbury!! and I ask you this? Is all this worth $36 million dollars (todays market cap
) or 7 cents a share
|Gross Metals Value inferred || |
In 2004 when Crowflight took its option at Bucko Lake, there was a 12-year-old historical estimate that put the Bucko reserve block at 2.5 million tonnes grading 2.2% Ni and 0.2% Cu within a global resource of 19.0 million tonnes grading 1.0% Ni. Extensive exploration and drilling of the Bucko deposit over the last four years, put the NI-43-101-compliant estimate at 3.7 million tonnes grading 1.45% Ni in the proven and probable reserves category (1.25% Ni cutoff) plus measured and indicated resource of 2.8 million tonnes grading 1.53% Ni (1.0% Ni cutoff).
And what happened to the other 19.0 million tonnes described earlier as a "global" resource? It has become inferred resources in several other occurrences. Together the inferred resources already total more than 30.0 million tonnes .
This news makes buying a no brainer!
Top Canadian Stocks with Highest Upside Potential (Oct 14, 2010 ...
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