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up strong today afta hitting lows of 3.45ish
i have price target of $9 for both mcr and smy in 2009 - that is using a price of USD 15/lb for nickel
IGO i have target of 11 for similar period
Oil - NZO
REE - ARU
Copper - EQN/OXR/TMR
Iron- AGO/ADY/UMC
Nickel-WSA
PGM/Gold - PLA/VRE
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Upgrading of resource estimates
95% RESOURCE CONVERSION FOR INITIAL DEACON RESERVE OF 43,000 NICKEL TONNES
http://sa.iguana2.com/cache/aa602b7f...SMY-372024.pdf
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SALLY MALAY PROJECT – RESOURCE & RESERVE UPDATE
http://sa.iguana2.com/cache/50531e25...SMY-372047.pdf
Extract:
Sally Malay Mining Limited (ASX Code: SMY) is pleased to announce an updated Measured and Indicated Mineral Resource of 2.83Mt at 1.73% Ni, 0.80% Cu and 0.09% Co for 48,940 tonnes of contained nickel between the 100 and 500 faults. The Company is also pleased to announce an increased Probable Ore Reserve for the corresponding Resource area of 2.79Mt at 1.32% Ni, 0.61% Cu and 0.07% Co for 36,800 tonnes of contained nickel.
Since mining commenced in 2004 the Sally Malay Project has produced 1.9M tonnes of ore grading 1.22% Ni, 0.53% Cu and 0.06% Co for 23,200 tonnes of contained nickel from an initial Reserve of 53,000 tonnes of contained nickel.
This reserve increase represents an increase of 7,000 tonnes of contained nickel or an additional year of mining from the original resource area.
A summary of the total Sally Malay Mineral Resource above a 0.5% Ni cut-off, as at 30 June 2007 is shown in Table 1"
Last edited by stolwyk; 07-08-2007 at 02:52 PM.
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anyone know when the full year results are out?
Oil - NZO
REE - ARU
Copper - EQN/OXR/TMR
Iron- AGO/ADY/UMC
Nickel-WSA
PGM/Gold - PLA/VRE
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Last year, in Sept.
I hold this stock.
Gerry
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yeah i had just checked
i have sold smy to buy jbm
Oil - NZO
REE - ARU
Copper - EQN/OXR/TMR
Iron- AGO/ADY/UMC
Nickel-WSA
PGM/Gold - PLA/VRE
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Originally Posted by Dazza
yeah i had just checked
i have sold smy to buy jbm
Thanks for the cheap shares Dazza.
Lets face it, Sally Malay are one of the lowest cost producers in the business and due to get lower.
Now into Deacon ore.
example 30 Metres @ 4.5% nickel
5 Metres @ 9.68 %
Potential for extensions for 2.5 mt @ 3% for +80,000 tons of contained Nickel
The width is excellent, so they just rip it out in bulk.
(Unlike say Mincor, who has to chase narrow ore bodies, high cost. Although this could change with Durkin etc) ( or AGM width also but very low grade)
So if JBM is worth $15 I'll hazard a guess, SMY should be worth $7.50 ????
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Originally Posted by tricha
Thanks for the cheap shares Dazza.
Lets face it, Sally Malay are one of the lowest cost producers in the business and due to get lower.
Now into Deacon ore.
example 30 Metres @ 4.5% nickel
5 Metres @ 9.68 %
Potential for extensions for 2.5 mt @ 3% for +80,000 tons of contained Nickel
The width is excellent, so they just rip it out in bulk.
(Unlike say Mincor, who has to chase narrow ore bodies, high cost. Although this could change with Durkin etc) ( or AGM width also but very low grade)
So if JBM is worth $15 I'll hazard a guess, SMY should be worth $7.50 ????
Tricha
I've got SMY on watch as my Nickel stock, & also looking at JML, you still got those?
Opinion on it for 2008/09?
SMY, like PEM meant to be the 2 most volatile ASX200 stocks...NICE
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Shasta - "SMY, like PEM meant to be the 2 most volatile ASX200 stocks...NICE"
Yep, worked out SMY the cheapest nickel play on the market
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NP tricha
but with all due respect, we have gone over the production costs of various Ni Producers, and SMY is one of the most expensive.
That is the reason why i have sold it for the likes of IGO and JBM instead.
So stop harping out that it is a low cost producer, face the facts it is not.
I have posted the costs of the producers when you had asked me for it in the nickel thread.
Regards
Oil - NZO
REE - ARU
Copper - EQN/OXR/TMR
Iron- AGO/ADY/UMC
Nickel-WSA
PGM/Gold - PLA/VRE
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Results due out today, according to Macquarie Equities.
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