Southam hits ace at Nedlands as Cassini hole develops

Fresh from a hole in one at Nedlands Golf Club last weekend, Mincor managing director David Southam has outlined why investors in the nickel company he leads have real cause for optimism with the Cassini deposit now being developed (reports MiningNews).
19th February 2021
Resources Rising Stars

Fresh from a hole in one at Nedlands Golf Club last weekend, Mincor managing director David Southam has outlined why investors in the nickel company he leads have real cause for optimism with the Cassini deposit now being developed (reports MiningNews).

According to Southam, history has shown Kambalda deposits like Cassini typically end up being between two and 15-times their original size.

Cassini has 60,000t in contained nickel resources, and reserves of 1.2 million tonnes grading 3.3% nickel for 40,000t of contained nickel.

And according to Mincor geologists, Cassini most closely resembles the Otter Juan deposit that turned out to be 15-times its original size.

Given the high grade Cassini is set to produce nickel at less than A$4 per pound - versus a current nickel price of just under $11/lb - additions to the deposit are set to be highly profitable for Mincor.

Meanwhile, as well as developing and drilling Cassini and Cassini North, Mincor is keen to explore its Northern Operations, with it describing the area between the Long and Durkin North deposits as the "golden mile of nickel".

Tendering for the drilling is underway.

Speaking at the RIU Explorers Conference, Southam made the point the company ensured it raised enough cash to maintain a strong focus on exploration is maintained as Cassini's mining development is undertaken.

The rationale: markets tend to get bored during the period mining projects get built.

Hence, expect ongoing newsflow from Mincor.

And hopefully, for Mincor shareholders, a bit of exploration luck from the geology team's skill.

Ala, a pitching wedge on a par 3.

 

 

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