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Dec Qtrly audio stream for EYE was interesting, and then have a look at the company GME resources (who have 1.2million tonnes of Nickel at 1.3%) which shares the Nickel anomaly across boarders of tenements and look at what GME share price has doneÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦. The CEO even talks of sharing plant costs so EYE must have something near equivalent.

 

 

 

EYE commence drilling in 1-2 weeks with results in 3-4 weeks after.

 

 

 

GME Market cap $130mil

 

EYE market cap $8mil

 

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PROMO: Special one month free offer expires end of February. Visit the exclusive StockAnalysis Energy Newsletter page for ShareScene members to view recent samples of their weekly report http://www.stockanalysis.com.au/ss_subform.htm.

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http://www.brr.com.au/site/images/partners/sharescene-logo.jpg

 

Recent ShareScene.com Radio Broadcast (Tue, 23 Jan 2007 4:00PM):

December Quarterly Report Highlights - Mr Wayne Ryder, Exec Chairman

 

 

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

 

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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

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the accouncement out for GME is promising for EYE next door!

 

HIGHLY SUCCESSFUL NICKEL HEAP LEACH TEST PROGRAM

120 DAY COLUMN LEACH - METAL EXTRACTIONS

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢

Hepi 78.4 % Nickel, 94.2 % Cobalt

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢

Mt Kilkenny North #1 78.2% Nickel, 87.5 % Cobalt

ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢

Mt Kilkenny Central #1 73.2% Nickel, 80.4 % Cobalt

The Company is pleased to report the completion of three 120 day column leach tests representing the nickel laterite profile at Hepi and Mt Kilkenny projects located near Murrin Murrin in the North Eastern Goldfields of WA. One further column test on the Mt Kilkenny North (MK North #2) material is at 64 days and proceeding with similar good results. The test work, undertaken in SGS LakefieldÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Laboratory in Perth, was targeting an average extraction of 70 % over 120 days.

These results clearly illustrate that the nickel saprolite resources at Hepi and Mt Kilkenny projects are amenable to heap leach processing. In each case, slump of the agglomerates column was minimal over the time period and excellent percolation rates were maintained over the 120 day period. These factors are critical parameters for heap leaching success.

Acid consumptions were acceptable for the saprolitic ore type, averaging 650 kg/t. Down stream metal recovery testwork is now proceeding on solutions from the column leach tests.

The Indicated and Measured resource located at Hepi and Mt Kilkenny (1% nickel cut off grade) is 16.8 million tonnes averaging 1.30% Ni and 0.10% Cobalt representing contained nickel metal of 218,000 tonnes. These resources represent less than 30% of the defined high grade resources within the NiWest Nickel Laterite Project. Much of the additional resource is now known to be similar high grade saprolitic material which should be suited to the heap leach technique.

ASX Announcement

2 1 March 2007

A major RC drill out program is scheduled for the Mt Kilkenny and the Eucalyptus projects through to June 2007. In addition to the RC drilling a Sonic drilling program will be undertaken at Eucalyptus (17.1 million tonnes at 1.24 % Ni indicated resource) to supply core samples for a new round of column test work.

These positive leach test results will be used as key inputs to the current Pre Feasibility Study scheduled for completion by the end of March 2007 The testwork provides a strong basis for the CompanyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s plans to progress to a trial heap in the second half of 2007 followed by a Bankable Feasibility Study which is expected to commence towards the end of 2007.

Based on the Hepi and Mt Kilkenny resources it is anticipated that the scale of operation now being considered will encompass a stand alone acid plant and target production in the region of 12,500 ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ 15,000 tonnes per annum of nickel for a minimum ten years.

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In reply to: JMH03 on Thursday 01/03/07 12:53pm

Yes indeed, JMH03. And this is a great time to start buying EYE again.

 

After a two-month hiatus, I believe the news-flow might begin again soon with drilling at Waite Kauri likely to get under way before too much longer.

 

We certainly left the story as a cliff-hanger with "ORE GRADE NICKEL OXIDE MINERALISATION AT THE WAITE KAURI PROJECT" the company's last headline, and very hopeful indications that GME's strike might carry on into EYE's ground.

 

Meanwhile, Ni prices have continued to advance strongly.

 

From the present share price, which isn't far from where it floated, you'd have to be keen on EYE. It shouldn't be difficult on that ground to get some decent hits...and then there's a whole suite of other strong assets in the company.

 

 

 

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In reply to: JMH03 on Tuesday 13/03/07 06:58am

NOW is an excellent moment to begin buying EYE. I'll give five quick reasons:

 

1. The capital structure. There are only 31m shares available for trading, and most of them in tight hands.

 

2. Nickel prices. In the face of strong but uneven performances by other base metals, Ni has gone from strength to strength and continues at record levels.

 

3. Low market capitalisation. Just $6.2m. By comparison, GME (whose Ni strike appears likely to continue into EYE's Waite Kauri ground) is capitalised at $135m.

 

4. Imminent drilling program. Some decent hits likely at Waite Kauri.

 

5. Share price at 20c. This is the price at which the company was floated just a few months ago. Since then, it has traded as high as 31c. Little of the float funds have been expended to date.

 

 

 

 

 

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I agree, and have been picking up a few more here an there in recent times....news of drilling expected next week shouldpush this to all time highs.

 

up 2c to 22c with decent support back on the bid http://www.sharescene.com/html/emoticons/tongue.gif

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