let the buyer beware but......., page-6

Well, the unbelievable has happened. PEL will now be a nickel miner.

Take a moment to review the company. Market cap is just under $10 mill. Romblon Nickel is the simplest prospect you could have as far as mining is concerned. Minimal infrastructure to be built other than a wharf from which to load the ships with nickel laterite that you simply scrape from the surface.

Current Total Inferred Resources of 7.26 million tonnes averaging 1.56%
nickel at a cut-off grade of 1.3% nickel

Here's the full report:

http://www.pelicanresources.com.au/wp-content/uploads/2008/05/pel-presentation2.pdf