The junior resource market has been moving up and v.NIC has not (yet.) Excellent opportunity ! Pure Nickel has great properties in Canada, no debt and $1.3 million in cash. That's right folks- more cash in v.NIC's treasury than its market-cap.
Currently trading at just .015 for a market-cap of only a million dollars. As I mentioned earlier- v.NIC has $1.3 million in cash and no debt. Currently trading for less than cash in treasury !
I called and spoke to the folks at v.NIC today. We will be seeing updates on their Alaska gold property and William Lake (Manitoba) property very soon. I was told that Xstrata has drilled over 300 hundred holes on the William Lake project. Pure Nickel owns 100% of both properties. Pure Nickel also has a royalty interest (1 % net smelter capped at $8,000,000 US Dollars) on a copper property owned by CS Mining in Utah. Not bad for 1.5 cents- not to mention the company has no debt and cash in its treasury equal to its market-cap !
http://www.purenickel.com/i/pdf/NIC-CHFCAPITALValuationReport.pdf Valuation Report Yuri Belinsky, BA, MA, Analyst We value Pure Nickel based on the book value of its mineral assets and the current Enterprise Value / Book Value of Mineral Assets multiple of the companies with comparable mining projects. Our analysis yields the Company’s fair equity value at $0.14 - $0.17 per share. If the Tower project and Milford copper properties values are calculated separately, by InSitu and DCF methods, and added to the fair value of other Pure Nickel’s projects, the Company’s fair equity value increases to $0.22 - $0.24 per share. However, until the junior mining stock market improves, we stick to the lower fair value range, $0.14 - $0.17 per share.
I've been told we'll be seeing a news release from v.NIC very early next week. Nice to see the bid growing. She's a no-brainer down here at 1.5 cents.
That came off their website. I've been searching their website but they haven't added much to it recently.
