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Mining Top 25 for 2010 - 12 - European Nickel Plc




This article was released in January 2010, so a lot has changed since then. Track our “Mining Top 25 portfolio” at caesarsreport.com/portfolio or sign up at caesarsreport.com to receive all reports and alerts live, free of charge.

Price
  £ 8.50p

Ticker  AIM: ENK
O/S  4,710,000
Avg. Volume  1,145,200
Market Cap  £ 44.48M
Sector  Mining (Nickel)
Countries Active  Turkey, Philippines, Albania
Cash  £ 1.33M


52 Week Low:  £ 11.25p (10/14/2009)
52 Week High:  £ 2.100p (12/30/2008)


Company Statement

European Nickel is an emerging mid-tier nickel laterite producer focused on growth. With over 1 million tonnes of nickel resources and assets in Turkey, the Philippines and Albania, European Nickel is targeting 50,000 tonnes of annual nickel production within five years.

European Nickel has developed a simple, low cost heap leach process for the extraction of nickel from nickel laterites, the most abundant form of nickel in the earth’s crust.
The Company is focused on finding and evaluating nickel laterite deposits that are amenable to its heap leaching process and, where economically viable, developing these deposits into commercial mining and processing operations. The Caldag project in Turkey is the Company’s flagship asset with near-term production and will be the world’s first commercial scale nickel laterite heap leach operation.

Positive / Negative

Positive: Two great nickelprojects, total output could reach 60M lbs/year at 2.5USD/lbs cash cost. Long life of mine, secured offtake at Caldag, Joint Venture at Acoje

Negative:
Delays in financing for the Caldag project,  may need to raise additional capital.

Main catalysts for 2010


- Financing on their Caldag Nickel project
- Definitive Feasibility Study on its 20%-Acojeproject. (may obtain 40%)




This article was released in January 2010, so a lot has changed since then. Track our “Mining Top 25 portfolio” at caesarsreport.com/portfolio or sign up at caesarsreport.com to receive all reports and alerts live, free of charge.

Disclaimer
Please read our full disclaimer on the website here.

Disclosure:
We hold a Long position in European Nickel Plc, this means we are biased, so please always do your own research.