here is just a snippet from a recent report i got..
plus i got some info saying total cost of production around AUD$2.00lb..!!!!!!
current nickel price is AUD$10.00lb..
these guys will be printing money..
""""FXR will continue to increase mineable nickel tonnes and unlock the geological picture at Radio Hill that could lead to a substantial increase in its overall nickel resource base. FXR currently has two drilling rigs on site operating underground, so investors will therefore have plenty of ongoing action from an exploration point of view. FXR has identified a feeder dyke at Radio Hill which provides an excellent target for fut ure exploration. From a mining perspective, underground conditions are excellent and the rock is highly competent. This contrasts in particular with the historic Kambalda mining area, where underground mining costs are significantly higher. As a comparison, we estimate that mining costs for FXR will be in the vicinity of A$40-$45/ ton compared with around $130/ton typically at Kambalda. This gives FXR a significant edge in terms of margins and profitability. FXR earlier this year announced a major 3-year contract to sell nickel and copper concentrate from its Radio Hill mine to Jinchuan Group, Chinas largest producer of nickel metal. The contract can be extended beyond 3 by mutual consent. Jinchuan is one of the worlds largest nickel producers, producing 60,000t of the metal in 2003. FXR has also recently strengthened its technical team at Radio Hill."""""
FXR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held