So I have traded my BWR.wt warrants for FNI-T .
The cost was equal to current value of the warrants
Smaller Float Great Guidance On 2008
And It appears that it bottomed at .44 cents during the crash.
We shall see how this trade turns out.
Update: BWR.wt broke out 20% on Feb 27, 2008
So I certainly left the stock too soon OUCH!
But PDP took off like a rocket 3.03 since Friday Feb 22 2008
I'm up $27,270.00 on PDP.
| First Nickel Provides 2008 Guidance 11:00 EST Tuesday, February 12, 2008 | |
TORONTO, ONTARIO--(Marketwire - Feb. 12, 2008) - First Nickel Inc. (TSX:FNI) today provided guidance with respect to 2008 production.
The company expects:
- To produce between 3.8 and 4.4 million pounds of payable nickel, and
- To produce between 2.3 and 2.7 million pounds of payable copper.
First Nickel has budgeted $17 million for development and capital improvements at the Lockerby Mine and expects to spend approximately $7 million on exploration the majority of which will be spent on targets around the existing Lockerby Mine infrastructure, Lockerby East and footwall areas. Funding for these expenditures will come from existing cash balances and cash flow generated from the Lockerby operations.
William Anderson, President and CEO states, "We look forward to a significantly improved 2008. I am pleased that the Board has authorized expenditures designed both to improve our existing production profile and to ramp up our aggressive exploration programs on our various, highly prospective properties in the Sudbury area."
First Nickel is a Canadian mining and exploration company. Its current activities are primarily focused on the Sudbury Basin in northern Ontario, the location of the company's producing property (the Lockerby Mine) and four of its exploration properties. First Nickel also has two exploration properties in the Timmins region of northern Ontario. First Nickel's shares are traded on the TSX under the symbol FNI.
This news release may contain forward-looking statements, which are subject to certain risks, uncertainties and assumptions. A number of factors could cause actual results to differ materially from the results discussed in such statements, and there is no assurance that actual results will be consistent with them. Such forward-looking statements are made as at the date of this news release, and the company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities law.
FOR FURTHER INFORMATION PLEASE CONTACT:
First Nickel Inc.
W.J. Anderson
President & CEO
(416) 362-7050
(416) 362-9050 (FAX)
Email: wanderson@firstnickel.com
| First Nickel Reports 289% Increase in Indicated Resources at the Lockerby Mine 1/16/2008 | | |
 | ||
TORONTO, ONTARIO, Jan 16, 2008 (MARKET WIRE via COMTEX News Network) --
First Nickel Inc. (TSX: FNI) is pleased to report an updated mineral resource estimate for its Lockerby Mine in Sudbury.
First Nickel has estimated a NI 43-101 compliant Mineral Resource that contains Indicated Resources of 2.89 million tonnes grading 1.78% Ni, 1.23% Cu and 0.07% Co, from the 65 to 72 levels, and Inferred Resources of 0.38 million tonnes grading 1.37% Ni, 1.05% Cu and 0.05% Co, below the 72 Level. A 1.0% nickel equivalent cut-off grade was used for this resource estimate. The resource estimate does not include the 64 Level, which was part of the March 2007 resource estimate and is currently being mined.
This upgraded resource estimate equates to a total of 113 million pounds of contained nickel in the Indicated Resource Category for the Lockerby Depth Zone and represents a net increase of 68 million pounds as compared to those previously reported in March 2007.
"The potential of the Lockerby Depth Zone has expanded significantly with an increase of the Indicated Resources by 289% above the March 2007 Resource Estimate. We are gratified that, when compared to the Indicated Resources at the time of purchase of the Lockerby Mine in 2005, we have increased the Indicated Resources more than ten-fold in less than 3 years." stated William Anderson, President and CEO. "Based on this new Resource Estimate, the Lockerby Mine currently has in excess of 100 million pounds of contained nickel in the Indicated Resource category which should allow First Nickel to plan for mine expansion and increased production."
Using this estimate, First Nickel expects to complete a new life of mine study this quarter that will include engineering and economic comparisons of shaft extension options and mine design. It is anticipated that such infrastructure improvements, based on the new resource model, will yield increased output, better productivity, reduced costs and will extend the mine life by 8 years or more.
Mineral Resource Estimate
The Mineral Resource model was prepared by the FNI Technical Team. The model and modelling procedures have been reviewed by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA), an independent, geological and mining consulting firm. In Scott Wilson RPA's opinion the mineral resource modeling and the Mineral Resource estimation, conform to NI 43-101 standards. In Scott Wilson RPA's opinion, the density of drilling and continuity of mineralization is sufficient to classify the estimated resources between the 65 and 72 levels on the Lockerby Depth Zone as Indicated Mineral Resources and below the 72 Levels on the Lockerby Depth Zone and the previously reported Lockerby East Zone as Inferred Mineral Resources. This resource estimate will form a portion of a more comprehensive Technical Report being prepared by Scott Wilson RPA.