IGO Takeover offer, page-83

JLB
The cost of production at Long Victor is fine, and has been for over a decade now


The reserve is where it should be and has always been targeted , about 5 years in advance, and production is at its steady state of 9000 Nickel tonnes a year, where it has been for a decade or more, and they paid about $15 m for this !!!! In 2011 the total profits were about $290m, and the "old girl" had produced about 270,000 nickel tonnes!

No point in going to hard at the Ni reserves at Long-Moran, as there are limits posed by the geometry of the ore system. They are basically developing along the plunge of the ores system, something lost on the analysts...
I would be very surprised if Long Victor McLeay, Moran is not going for another 10-20 years..its a fabulous ore system, one of the best.


"Long
•Production and cash costs better than guidance at 2,572t contained Ni at $3.88/lb Ni(1)
•Committed to developing drill drive for McLeay South to drill potential resource extensions
•Encouraging drill result at Moran South"


Will be interesting to see how the Nova Bollinger goes when they get to it....

good luck