JOHANNESBURG (miningweekly.com) – Australian resources company TNG has concluded the initial scoping study of its Mount Peake vanadium project, in the Northern Territory, and was now undertaking optimisation work on the study to assess project viability.

The initial study considered the viability of an open pit mining operation study using a marginal cut-off of 0,22 % vanadium pentoxide (V₂O₅) conservative V₂O₅ price of $8/lb, and processing of five-million tons a year, with an estimated capital cost of between A$400-millin and A$500-million.

Despite the high capital cost the results demonstrated viable project economics given the parameters and assumptions of this initial study, TNG said in a statement.

The capital cost has been estimated based on information supplied by METS, which is undertaking the metallurgical test work. This work is ongoing and the final processing route not yet been established.

“TNG is encouraged by the results of the initial scoping study, particularly as this optimisation has been based on TNG’s maiden inferred mineral resource of 107-million tons at a grade of 0,32% V₂O₅, 5,9% titanium dioxide, 29% iron, estimated from its first round of drilling on the project,” the company said.

A significant portion of the Mount Peake magnetic anomaly remains untested and offers the potential to increase the initial resource and further enhance the project’s economics.

“The board of TNG is pleased with the results and will now consider the optimum route to progress the Mount Peake project to the next phase, including the possibility of introducing a joint venture partner to fund ongoing resource drilling and project feasibility work.”

I note that some are thinking of venturing into the ROF when the winter roads go in. Might I suggest the following; Remember the communities are remote and unused to having people just 'turning up'. It might be prudent to phone the community (either Web or Martin Falls) and ask if it would be OK to come up. This will show them respect for their territory and will eliminate any chance of you turning up at a time they might not want visitors. My thoughts.

This link should take you through to a real time chart, you need to hit refresh to update. Hope it helps.
http://de.advfn.com/p.php?pid=staticchart&s=TX%5ENOT&p=0&t=19&vol=1

JOHANNESBURG (miningweekly.com) – The major nickel discovery at Dutwa in Tanzania was poised to eventuate into a low-cost mine by 2012 when some analysts were forecasting a nickel price of $8/lb, African Eagle operations director Chris Davies said at the weekend.

Davies told Mining Weekly Online that the economic viability of the proposed nickel project had been based on a nickel price of $7/lb and a breakeven price of $6,50/lb.

At $7/lb, the project would yield $1,5-billion in revenue over the life-of-mine, which was currently 21 years.

On Friday, nickel was trading at $7,30/lb and, prior to the global economic meltdown, the price as high as $11/lb.

Agitated-tank-leach technology was found to be the most viable of the processing options, followed by heap leaching, and no recourse would be necessary to the expensive, high-pressure acid-leach technology that had given nickel laterites a bad name, Davies added.

The study also used $100/t for transport costs, but Davies expected those costs to decline appreciably as a result of new planned investment in the port of Mombasa, as well as proposed new investment in rail networks in Tanzania and Kenya, which would significantly improve the economics of the project.

There was potential to highgrade in the first operational years of the project, which would sweeten returns further.

If I back out of each message and go back to the forum and click on the next message they will all turn red. If I use the next message feature (top right) only the one I started on turns red.

TORONTO (miningweekly.com) – Canadian base-metals miner HudBay Minerals intends to put its strong cash position to good use by going shopping, and could look at deals worth as much as C$1-billion "in the right circumstances", CEO Peter Jones said on Friday.

Acquisitions or potential joint ventures will be a “high priority” this year for the company, which has some C$800-million on hand, he told journalists after the firm's annual shareholders meeting in Toronto.

Jones said the focus will remain on copper, zinc and nickel assets, and also indicated that the company may already have identified some potential targets.

“It is fair to say that we have a number of irons in the fire,” he said.

The firm will look at lower risk countries - Jones cited South and central America as "key areas" - but could also be lured to regions like Africa and Asia for attractive enough projects.

"The opportunities are definitely out there, there is no question about it," he said.

"People are talking. They want to talk and this is very different from a year or two ago."

The focus on acquisitive growth is one fork of a new strategic plan presented to shareholders at Friday's meeting