VICTORY NICKEL (NI.v) or (VNCKF)

GETTING YOUR NICKELS WORTH?
Analysis on Victory Nickel
By Dan Mason
Colorado, USA




Getting Your Nickel’s Worth?

The price of nickel is exploding these days! Nickel is up from $2.50/lb in 2002 to
over $23.50/lb today (April 27, 2007)! That’s a $21/lb rise in 5 years or a 940%
increase!!! That equates to a 57% annual rate of return! Now that’s what I call
getting your nickel’s worth!

So where can an investor go to tap into the great run-up in nickel? The producers
of this not-so-noble metal should afford ample opportunity for advancing one’s net
worth. One such opportunity is in a little known company called Victory Nickel.

Victory Nickel is a new company that was spun-off from Nuinsco Resources
Limited in February of 2007. The big resource for Victory Nickel is its property at
Minago in Manitoba , Canada . From the corporate web site: “Victory Nickel Inc.
is a growth-oriented Canadian nickel company with over 660 million pounds of in-
situ nickel in National Instrument 43-101-compliant measured and indicated
resources and an additional 530 million pounds of in-situ nickel in inferred
resources at its Minago, Mel and Lac Rocher sulphide nickel deposits.” Mining
reserves are rated according to a rating system in which the most reliable
reserves are known as ‘measured’, less certain as ‘indicated’ and least reliable
as ‘inferred’ according to 43-101[1] compliance requirements. This (43-101)
system was instituted in Canada following the infamous Bre-X[2] scandal of the
late 1990’s. “National Instrument (NI) 43-101 is a direct result of a series of
mineral exploration frauds perpetrated on the public in the late 1990's. During that
period certain companies and individuals disclosed fraudulent, inaccurate,
misleading and/or incomplete information upon which the investing public relied.
The results included massive losses, lawsuits and a rapid contraction of the
Canadian equity markets.”[3]

As a result of Bre-X, and other scandals, reputable mining companies strive to
publish their resource estimates according to NI 43-101 standards. It gives
investors confidence that they are not being taken advantage of by unscrupulous
individuals as well as giving a common measuring standard to which all potential
resource reserves can be compared.

Here’s is a brief, back of the napkin analysis of Victory Nickel. Their nickel
deposits (measured and indicated) are 660 million lbs. x $24/lb = $15.84 USD
billion in potential value! Take out their $4/lb USD (I’ll use $4/lb USD instead of
CND for simplicity as well as a more conservative computation) cash cost and
you get 660 mil x $20/lb USD = $13.2 USD billion in potential value. This is still a
huge number! Then assume a 57% recovery of nickel from the mine and you get
$13.2 billion x 0.57 = $7.52 USD billion! Divide 188 million shares[4] fully diluted
and you get $7.52 bil/188 mil = $40/share (USD) fully diluted!!! Let's see, today’s
price is $0.90 CND? Let me think about this! Eureka ! This should be a real
winner! Of course, this doesn't include the ‘frac sand’ (fractional sand used by the
energy industry in extracting oil and gas), gold, silver, copper, cobalt, palladium
and rhodium? Perhaps this will reduce the cash cost of production? The ‘frac
sand’ alone is calculated to be worth $89 Cdn million[5] which should pay a
portion of the mine construction.

Victory Nickel estimates the mine construction/maintenance costs to be $441
million CND.[6] This will need to be financed before the mine can begin
producing. This is the big question at this point for Victory Nickel in my opinion.
With $20 million[7] CND in the bank from the recent private placement, Victory
Nickel has an eye to do further drilling to increase their resource estimates for
their bankable feasibility study due out early in 2008. In my view, it looks to me
like the company has a potential plan to use one of their other more advanced
properties at Lac Rocher in Quebec with near-term production[8] to finance their
mine at the bigger resource at the Minago Mine in Manitoba . This would avoid
hedging (which I hope they do at all costs) and share-holder dilution if they can
provide their own financing.

With three nickel properties to choose from and the price of nickel going higher all
the time, this company could receive a buyout offer any time from a large investor.
Has anyone seen any Chinese with pockets full of money snooping around
Minago?

Additional protection is afforded Victory by its parent company, Nuinsco by way of
its 22% share[9] of Victory from hostile takeover attempts. Add to that the
management share[10] of 9% and you have 31% of shares in friendly hands.

This company looks like a real barn-burner to me! I may be a little slow investing
on this one, but it appears to me that this is a reasonable investment gamble?

Cheers!



Note: Victory Nickel resource value estimates on their web site, have been
made using a 3-year trailing average value for nickel of $7.43 CDN and the price
of nickel hasn’t seen that value for over a year and LME Nickel stocks are at all-
time low levels! This all spells potential explosive values ahead for Victory Nickel.

I also notice that the Lac Rocher is situated inside a proposed reservoir but the
company documentation does not address this! When will the reservoir be built?
Will the mine be allowed to be constructed and operated to completion before the
reservoir is filled? This could be an advantage as the reservoir will cover the mine
pit at mining completion. “The Lac Rocher Property is located within the James
Bay Lowland. Maximum topographic relief in this region is approximately 150
metres. At Lac Rocher a maximum relief of 45 metres is present. The main
discovery area lies within the Reservoir Quenonisca1, a Hydro-Québec reserve
district which could be flooded if a hydroelectric dam is constructed to create this
reservoir.1 Hydro-Québec N/D 970066-010 Reservoir Quenoisca (Feuillet
32K/09)”[11]



--------------------------------------------------------------------------------

[1] http://www.victorynickel.ca/

[2] http://en.wikipedia.org/wiki/Bre-X

[3] http://www.avalonalaska.com/NI43-101.htm

[4] http://www.victorynickel.ca/fsheet.pdf

[5] http://www.victorynickel.ca/minago.html

[6] http://www.victorynickel.ca/fsheet.pdf

[7] http://www.victorynickel.ca/fsheet.pdf

[8] http://www.victorynickel.ca/press_releases/2007/03-30-07-
VictoryCompletesPrivatePlacement.pdf

[9] http://www.victorynickel.ca/fsheet.pdf

[10] http://www.victorynickel.ca/fsheet.pdf

[11] http://www.victorynickel.ca/reports/2006/12-27-06-NWI-LacRocher.pdf Sec
5, p. 11

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GETTING YOUR NICKELS WORTH?
Analysis on Victory Nickel
By Dan Mason
Colorado, USA

Photo by Leonard Wall

Apr. 29/07

Victory Nickel Announces Plan for Development of Lac Rocher Nickel Deposit
Phase One: 50,000 tonne bulk sample @ 4.06% Ni, Phase Two: 400,000 tonnes @ 1.57% Ni

07:00 EDT Friday, June 01, 2007

TORONTO, ONTARIO--(CCNMatthews - June 1, 2007) - Victory Nickel Inc. ("Victory Nickel" or the "Company") (TSX:NI) (www.victorynickel.ca) today announced that it has begun an environmental baseline study at its 100%-owned Lac Rocher sulphide nickel project in northern Quebec. The baseline study, scheduled for completion in October, will form part of the Environmental Licence Application which is the first step toward permitting, mining and direct shipping from the high-grade, near-surface Lac Rocher deposit to one of a number of potential mills.

An environmental impact statement will be submitted to the government of Quebec by November 2007 prior to the application for a Certificate of Authorization (operating permit).

"Lac Rocher is a valuable asset, and at current nickel prices Phase One of the project is expected to generate significant cash flows," said Brian Robertson, President. "Given the high grades at Lac Rocher, we have been approached by several parties interested in milling material on a direct-ship basis, and are moving forward with all aspects of permitting, metallurgy and engineering in preparation for the start of development in 2008."

In Phase One, approximately 50,000 tonnes of material grading 4.06% nickel is projected to be mined at an expected rate of 1,000 tonnes per day. Phase Two mining will extract an additional 400,000 tonnes of material grading 1.57% nickel. The mineral resource estimate, located between surface and 150 metres vertical depth, for each projected phase of mining is as follows:


Phase One
---------------------------------------------------------------------------
Measured Indicated
---------------------------------------------------------------------------
Ni Cut- Ni Grade In-Situ Ni Grade In-Situ
Off (%) (%) Tonnes Ni (Lbs.) (%) Tonnes Ni (Lbs.)
---------------------------------------------------------------------------
2.50 4.06 51,178 4,576,891 4.36 2,557 245,771
---------------------------------------------------------------------------


Phase Two
---------------------------------------------------------------------------
Measured Indicated
---------------------------------------------------------------------------
Ni Cut- Ni Grade In-Situ Ni Grade In-Situ
Off (%) (%) Tonnes Ni (Lbs.) (%) Tonnes Ni (Lbs.)
---------------------------------------------------------------------------
0.75 1.57 392,011 13,594,044 1.15 45,870 1,167,125


-----------------------------------------------------
Inferred
-----------------------------------------------------
Ni Cut- In-Situ
Off (%) Ni Grade (%) Tonnes Ni (Lbs.)
-----------------------------------------------------
0.75 0.93 1,706 35,152
-----------------------------------------------------

In support of development of the Lac Rocher deposit, a drill program will begin in July 2007. Metallurgical testing will commence in June 2007 at COREM in Quebec City, Quebec. Ramp development would start immediately after receipt of the Certificate of Authorization and it is anticipated that it would take approximately nine months to reach the high-grade section of the deposit.

About Lac Rocher

The 100%-owned Lac Rocher property is located on the Frotet-Evans Greenstone Belt in northwestern Quebec, 140 kilometres northeast of the village of Matagami. The Lac Rocher nickel-sulphide discovery occurs in the zoned, unmetamorphosed "Discovery Intrusion" that is in sharp intrusive contact with the enveloping country rock. The 3.2 metre massive sulphide intersection at the footwall contact of the intrusion in drill hole NLR-99-01 returned a weighted average of 10.8% nickel as part of a 61.5 metre interval grading 1.69% nickel. Subsequent drilling further tested the discovery intrusion as well as other targets, identifying a larger halo zone in excess of 1% nickel surrounding the massive sulphide discovery.

Anyone know why Ni.to slipped to a 9 leverage at Miningpedia?

Relax, the original formula that calculates leverage in Miningpedia is not working correctly....

Here is the link to Jason and Shelby's correspondence on the change to the modified formula...

http://jasonhommelforum.com/forums/showthread.php?t=1544&page=3

Post #28 by Shelby
If we don't account for hedging, then we will highly overrank juniors like SAM.V.

Post #29's comment by Jason:
What is important now, is to please focus on getting the asked for updates working. IE, working published formula for the resource leverage calc, and to be able to sort based on which "commodity", and to get grades functioning.

You MUST learn to walk before you can run. The thing is not walking yet, it's crawling.

Post #30 by Shelby:

I will be more comfortable when there is a forward P/E, debt is factored in, and somehow future dilution is better factored in (for example, I think we need the average price of Warrants & Options so we can see what portion of Capex is earned at what cost to share quantity dilution). For example, you can see the Miningpedia is not rating GORO.OB highly, but that is probably 2nd or 3rd best mining stock investment I know on the planet right now. I am VERY confident that GORO will blow away these other stocks (over the next 18 months) that are higher on Miiningpedia right now. I am not willing to bet you on one stock, but if we took my 5 best stocks (none of which rank highly on Miningpedia), I will make a $$$ bet against the top 5 on Miningpedia right now.

http://www.globeinvestor.com/servlet/story/ROC.20070601.2007

Xstrata says won't match Norilsk offer for LionOre

01/06/07

TORONTO (Reuters) - Xstrata Plc said on Friday it would not exercise its right to match Norilsk Nickel's C$6.8 billion ($6.4 billion) takeover offer for Canada's LionOre Mining International Ltd. .

Norilsk unveiled its enhanced bid last week, which topped Xstrata's most recent offer of C$6.2 billion. LionOre determined Norilsk's offer superior to Xstrata's.
Xstrata and Norilsk have both made two offers for LionOre, the world's 10th-largest nickel producer.
Under the terms of a support agreement, LionOre must pay Xstrata a C$305 million break fee if it accepts an outside bid.

LionOre told Xstrata last Thursday it would terminate the agreement and pay the fee if Xstrata does not match the offer, Xstrata said in a release.

Xstrata also extended the expiry of its offer by one week to June 15.

LionOre's shares have climbed well above the offer price, and closed at C$28.36 on the Toronto Stock Exchange on Friday. Norilsk's latest bid values the stock at C$27.50 per share.

($1=$1.06 Canadian)

Thanks for the posts, EarthMonkey.

I feel very good about NI.to's announcement to get things rolling at the Lac Rocher project. This is exactly what I hoped would happen, and it makes, so much sense, that anyone who hears the story, must be compelled to get a full understanding of NI.to. I think any level headed person, who investigates this company, comes to the conclusion that a lot of things would have to go wrong, for NI.to to be less, than a great investment.

More good news.
http://www.globeinvestor.com/servlet/story/CCNM.20070618.397475_1/GIStory/

Man...I can't believe NI is back to where I bought it. Talk about running in circles.

I bought some NI.to @ .68 today for family and friends. NI looks ridiculously cheap to me. NI will have to raise monet eventually, even after making a good chunk from the high grade mining they will be doing soon, but I think credit might be even cheaper, when the time comes. Also I am betting nickel prices will be higher as well.

Thanks Karl!

And thanks MR.A great work!

So, it looks like Victory Nickel is on track to develop Lac Rocher in 2008.
http://biz.yahoo.com/ccn/070913/200709130413033001.html?.v=1

This 2 phase project should generate at least $100 million revenue base on the current Nickel price @12 per lb...

http://biz.yahoo.com/ccn/070601/200706010394415001.html?.v=1

In Phase One, approximately 50,000 tonnes of material grading 4.06% nickel is projected to be mined at an expected rate of 1,000 tonnes per day. Phase Two mining will extract an additional 400,000 tonnes of material grading 1.57% nickel.....

EarthMonkey,

I have some questions about Victory Nickel.

Question 1
In Phase One, approximately 50,000 tonnes of material grading 4.06% nickel is projected to be mined at an expected rate of 1,000 tonnes per day.
Does this mean the company is performing a test run to see how much nickel they can obtain from 50,000 tons?

Question 2
The company states on there web page that they have over 660,000,000 pounds of in-situ nickel.
Can you please tell me what that statement means?

Thank you.

Question 1 answer:
This is a bulk sampling to get the higher grade ore to generate cash flow. In Quebec, exploration company has special tax treatment when they do bulk sampling. Len may be able to provide you a detail answer.

Question 2 answer:
This statement means that the 600 mil lbs nickel are in their original spot - never been moved.

My gut feeling tells me that Nickel price will soon rebound. Well, just check kitcometals.com. It rebounded very strongly today +7% so far to $13.77 per lb.

Some options and bonuses were handed out, but management isn't selling:
http://canadianinsider.com/coReport/allTransactions.php?ticker=ni.to

Very impressive drill result!!!

http://biz.yahoo.com/ccn/071004/200710040417215001.html?.v=1

Victory Nickel's Lac Rocher Deposit Continues to Return Impressive Results
Thursday October 4, 11:22 am ET
Metallurgical drilling returns 1.42%Ni over 45.92m, 3.07%Ni over 14.90m and 9.50%Ni over 2.29m


TORONTO, ONTARIO--(Marketwire - Oct. 4, 2007) - Victory Nickel Inc. ("Victory Nickel" or the "Company")(TSX:NI - News; www.victorynickel.ca) today announced results from recent diamond drilling grading up to 9.5% nickel over 2.29 metres within a larger intercept of 45.92 metres grading 1.42% nickel at its 100%-owned Lac Rocher nickel project in northern Quebec. These results continue to confirm the presence of a high-grade, high-sulphide content nickel zone located within 150 metres of surface, along with a larger disseminated nickel zone. The drilling tested for possible extensions to nickel sulphide mineralization and provided metallurgical samples for a Preliminary Economic Assessment (PEA) to evaluate the near-term production and cash generation potential at Lac Rocher.

This drilling confirms the presence of a near-surface zone (less than 150m below surface) of high-grade, high sulphide content mineralization occurring at the footwall contact of the Lac Rocher "Discovery Intrusion" with the gneissic country rocks (see holes NLR-07-05 (5.74% Ni over 5.06 m), NLR-07-06 (9.50% Ni over 2.29 m), and NLR-07-09 (4.90% Ni over 3.55)). The drilling also provides additional confirmation as to the presence of high-grade nickel zones outside of, but in close proximity to, the known massive sulphide zone that could significantly enhance the economics of the Lac Rocher resource. These include the intercepts in NLR-07-04 (3.48% Ni over 10.12 m), NLR-07-05 (2.31% Ni over 7.44 m) and NLR-07-09 (3.07% Ni over 14.90 m).

"These results continue to expand our geological and metallurgical understanding of the massive sulphide zone at Lac Rocher," said Brian Robertson, President. "Interestingly, hole NLR-07-06 intersected significant massive sulphides, 9.5% nickel over 2.29 metres, at a point farther south than any of the previous drill holes, indicating a possible increase in the extent and volume of massive sulphide mineralization at Lac Rocher."




Analytical results from all holes are as follows:
---------------------------------------------------------------------------
Length
DDH No. From To Cu% Ni % (m) Comments
---------------------------------------------------------------------------
NLR-07-01 43.63 92.88 0.56 0.59 49.25
Including 44.36 53.42 0.43 1.07 9.06
and including 78.60 84.27 0.63 1.38 5.67
and including 89.64 90.56 11.38 2.01 0.92

NLR-07-02 111.45 115.57 0.54 2.09 4.12

NLR-07-03 119.86 124.77 1.09 1.49 4.91
Including 120.35 123.25 1.48 2.07 2.90

NLR-07-04 80.47 126.75 0.67 1.42 45.92
Including 110.42 126.48 1.02 2.51 16.06
or including 115.07 125.19 1.24 3.48 10.12
And 133.00 138.98 1.32 0.87 5.98

NLR-07-05 74.76 79.86 0.43 2.11 5.10 near the hanging wall
contact
And 110.02 122.27 1.13 1.90 12.25
Including 110.02 117.46 0.78 2.31 7.44
and 125.56 130.62 1.90 5.74 5.06 massive to contact
breccia sulphides

NLR-07-06 129.00 155.14 0.72 1.88 26.14
Including 143.61 145.90 1.52 9.50 2.29 suspended horizon of
massive sulphide

NLR-07-07 64.66 105.80 0.41 0.85 41.14 continuously
mineralised
intrusion
Including 77.74 105.80 0.46 0.98 28.36
Including 87.00 105.80 0.49 1.06 18.80
Including 98.85 105.80 0.51 1.14 6.95

NLR-07-08 No samples

NLR-07-09 90.80 96.32 0.54 2.07 5.52
And 103.92 113.65 0.43 1.54 9.73
And 123.10 138.00 1.25 3.07 14.90 above the footwall
contact of the
intrusion
And 141.17 144.72 2.26 4.90 3.55 footwall sulphide
intrusive breccia
into Paragneiss

NLR-07-10 No samples

NLR-07-11 1.62 52.85 0.26 0.54 51.23

NLR-07-12 128.67 1.29 0.18 3.20 0.33
---------------------------------------------------------------------------

All analyses were conducted by Laboratoire Expert in Rouyn-Noranda,
Quebec, or ALS Chemex in Sudbury, Ontario; all intervals are core lengths,
not true widths.


In addition to the southern extension of massive sulphide mineralization identified in hole NLR-07-06 drilled this year, holes NLR-99-17 (54.95m grading 0.27%Ni and 0.13%Cu) and NLR-99-34 (8.2m grading 1.89%Ni and 0.58%Cu), drilled and reported in 1999, also show that the potential for additional mineralization exists elsewhere in the "Discovery Intrusion" (see map below).

As previously announced, Victory Nickel has entered into a Memorandum of Understanding ("MOU") with the Waswanipi Cree First Nation ("WCFN") whereby the parties have agreed to work together to support development of the Lac Rocher deposit in a way that respects the collective interests of Victory Nickel, the WCFN and other stakeholders. Phase One of the project is expected to consist of an underground exploration and bulk sampling program to evaluate ore continuity and provide further metallurgical evaluation. Phase One will entail the extraction of approximately 50,000 tonnes of material grading approximately 4.0% nickel. The Company is evaluating a number of options whereby mineralized material from Lac Rocher would be direct shipped to an offsite mill for processing.

Roche Engineering has begun an environmental baseline study required for permitting. Core produced from the 2007 drilling program will be used to provide a metallurgical evaluation of the deposit as part of the PEA currently being completed by Roche to evaluate the economics of the deposit. Metallurgical tests are currently underway at Xstrata Process Support in Sudbury, Ontario and Corem in Quebec.

About Victory Nickel

Victory Nickel Inc. is a Canadian company with over 660,000,000 pounds of in-situ nickel in National Instrument 43-101-compliant measured (154,000,000 pounds) and indicated (511,000,000 pounds) resources in three sulphide nickel projects: Minago and Mel on Manitoba's Thompson nickel belt, and the high-grade Lac Rocher deposit in northwestern Quebec, and an additional 530 million pounds of in-situ nickel in inferred resources. Created from the nickel assets of Nuinsco Resources (TSX:NWI - News), Victory Nickel is well financed and focused on becoming a producer by developing its existing properties and evaluating opportunities to expand its asset base.

Mineral resources were estimated by the Mining Innovation, Rehabilitation and Applied Research Corporation (MIRARCO), located in Sudbury, Ontario. All analyses were performed by Laboratoire Expert of Rouyn-Noranda, Quebec. Please refer to the technical report entitled "Technical Report and Mineral Resource Estimate on the Lac Rocher Project" dated and filed on December 27, 2006 for further information. Victory Nickel's Qualified Persons for the Lac Rocher Project under the NI 43-101 guidelines are P.L.Jones, P.Geol. and C.A.Wagg, P.Geo. Mr. Jones has reviewed and approved the contents of this news release. The Lac Rocher technical report was written by Ted Goettel, P.Geol, an independent qualified person under National Instrument 43-101.

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements." All statements, other than statements of historical fact, that address activities, events or developments that Victory Nickel believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Victory Nickel based on information currently available to Victory Nickel. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Victory Nickel to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Victory Nickel. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to successfully complete financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world copper, nickel and/or gold markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates, success of future development initiatives, competition, operating performance of facilities, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from government authorities, and other development and operating risks. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Victory Nickel disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Victory Nickel believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

To view a map of Lac Rocher Project, please visit the following link: http://www.ccnmatthews.com/docs/Lac_Rocher%20Project%20map.pdf

Management knew this was coming....

Take a look at Canadian Insider...

http://canadianinsider.com/coReport/....php?ticker=ni

All this year drill results were respectable.....

Right after the news was released, someone bought 200k shares at 68 cents. Now it is bidding at 71 cents (previous close was at 54 cents).

Dont forget Sprott owns 16 mil shares.

There were a few 30-50k shares bit at around 60-65 cents. I think it will close at around this price

And then over the next few months, we should feel the earthquakes....

So Bull, what would you say about the drill result? I had a strange feeling that JH was buying today as he has lots of cash right now.

I would say we should get used to this kind of result from Victory Nickel.

I wrote a while back that I think the market will once again value companies for what they have. I have been quite annoyed by what sometimes seems to be the complete focus of the market on fantasy drill plays. Now don't get me wrong, buy 'em if you can find 'em. What I need to do is look for value, which can be realized by competent management. I believe the time is fast approaching where such companies will see tremendous upside. Investment houses like Sprott already are believers in the long bull commodity cycle ahead of us, many more will follow. When this time comes, it will be best to know what real value looks like. I personally am of the frame of mind that Victory Nickel is indeed a prime representation of real value. If I turn out to be wrong about this, then I will have made one of my largest blunders to date, as it would effect my whole future way of investing.

I guess I am not used to this kind of drill results yet as I bought a few more shares in one of my trading accounts after the news was out.

"Interestingly, hole NLR-07-06 intersected significant massive sulphides, 9.5% nickel over 2.29 metres, at a point farther south than any of the previous drill holes, indicating a possible increase in the extent and volume of massive sulphide mineralization at Lac Rocher."

It looks like the company should do more step-out drillings....

I do believe you are right on!

EarthMonkey,

You mentioned that selling pressure seemed to be overtaking NI.v

I will make the prediction that now is a good time for holders of the company. I have a large position already and not much cash, so I guess I am not buying, but I still hold to my belief that NI is set to outpreform SGL.

I still see no buying pressure on this one yet. I do hope you are right about your prediction - NI outperform SGL as I sold SGL and bought more NI shares a couple of weeks ago.

BTW, my trading parntner sold most of the PCM shares and wanted to buy back on the dips. I may buy some more shares if it happens too. It is great to be able to shop at great bargin price!!