...One of a sprinkling of Aussie nickel hopefuls set to ride the nickel wave and perhaps come under the heightened nickel market spotlight is Sally Malay Mining [ASX:SMY], who this month is expected to commence the main plant construction at its A$48 million nickel-copper-cobalt project of the same name in the East Kimberley region of Western Australia.
It has locked in debt funding facilities for Sally Malay totalling A$52 million arranged by Macquarie Bank and Standard Bank and is aiming to commission the new standalone operation early next year with a view to the first shipment being made around March/April 2004.
Perth-based Sally Malay is on the verge of finalising an offtake contract covering all of its concentrate production, which is to be sold to a joint venture between China’s biggest nickel and cobalt producer, the state-owned mining enterprise Jinchuan Group, and resources investment and trading company, Sino Mining International. Jinchuan has also agreed to provide a US$5 million subordinated debt for the Sally Malay development.
Latest economic parameters show Sally Malay is set to be a robust earner for the company. Using long-term price assumptions of US$3.60 per pound for nickel (the current spot price is above US$4/lb), US$0.75/lb for copper and US$9.50/lb for cobalt price, and a US dollar exchange rate of A$0.65, Sally Malay has an estimated NPV over the initial mine life of 5.5 years of in excess of A$50 million at a 10 percent discount rate and an IRR of 35 percent.
Annual output from Sally Malay has been forecast at about 60,000-70,000 tonnes of concentrate containing 7,000-8,500t of nickel, 3,500-4,000t of copper and 350-400t of cobalt at an average cash operating cost of US$1.90/lb nickel net of by-product credits.
The financing package called for Sally Malay to put in place some nickel hedge contracts, which account for around 15 percent of the insitu nickel in the Sally Malay resource. As at 31 March, that resource stood at 3.74 million tonnes grading 1.74 percent nickel, 0.72 percent copper and 0.09 percent cobalt.
Meantime, encouraging results from a round of deeper drilling beneath the existing resource extent suggest the Sally Malay sulphide deposit could host additional economic mineralisation below 500m depth. “The ‘Deeps’ drilling program, subject to further positive assay results and mineralised intersections, should provide a sound basis for an increase to the current Sally Malay resource,” stated managing director, Peter Harold.
2003/06/11
http://www.mips1.net/mgjr.nsf/0/...5918D48256D4200320839?OpenDocumentund Nickel steigt weiter...im letzten Jahr schon verdoppelt auf $US15,000 a tonne
http://www.thewest.com.au/20031220/news/general/...ome-sto117366.htmlnicht dass ich die Empfehlungen vom Aktionär für gut halte,tu ich nicht
und im SDAX ist die ja wohl schwerlich,eher im Freiverkehr!
Grüezi! Sie wurden auf finanzen.ch, unser Portal für Schweizer Anleger, weitergeleitet.
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