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The Financial Post highlighted the discovery of the Pecors anomaly by International Montoro Resources (TSXV:IMT) on it’s recent article entitled, “Nickel inventories in China plummet”. The article breaks down the path to the discovery, and the Company’s plans for the future.
As quoted in the article:
“We drilled the property in 2007 and in 2010, and Montoro re-assayed the U3O8 core from 2007 to discover significant REE’S values,” stated Musil. “In 2009, the Ontario Geological Survey (OGS) contacted us stating there appears to be an error in the interpretation of the Pecors anomaly (they, as others, assumed it was an iron formation). They asked if it would it be okay for them to assist the company by purchasing access to VTEM airborne survey, which allowed them to launch into an extensive lake, river and stream sediment geo chemical survey on the property and surrounding area.”
According to the article, CEO Gary Musil said:
“Last year, the Indonesians pulled the plug on shipping pig nickel to China,” confirms Musil, “so the Chinese have been going to the Philippines and buying their nickel, but the grades are not great – it doesn’t justify the amount of energy it takes to get the nickel out.”
Musil says that when China runs out of nickel, they are going to come knocking on Canada’s door.
“In the next couple of years I expect nickel to get back up to $10-$11 dollars a pound.”
Click here for the full article.
Click here for the International Montoro Resources (TSXV:IMT) profile.
The report referred to in this post was paid for by the company that is covered in the report, or there is some other monetary relationship between the company and the writer of the report. This may lead to a conflict between the interests of the writer of the report and the interests of investors. Due care should be taken to understand the relationship between the company and the writer of the report and to factor the relationship when making investment decisions.