Silver Elephant Mining Corp (SILEF)

[gharma]

Permitted: Victory Nickel on the move with permit announced today.
Up over 20% in early trade, NI has been undervalued for some time
PCY and Ni own 9% of each other if I am correctly recalling %age.
Before this move NI should have a bit over 8% (direct + indirect, shares from the reorg around 4% plus from owning PCY a bit over 4%) of NKL was bujmping around 50+ % of NI's market cap. With changes today their NKL is near 40% of market cap. (note: I have not been able to confirm NI still holds all their NKL and PCY but I have seen nothing about selling any).

This is the last piece needed to start to develop mine on their flagship NI property. New NI43-101 coming later, but present feasibility projects 11,000 tonnes/yr NI over 9 years at $2.12/lb cost net of credits. (that is north of $175 million gross revenue / year) Mine is open-pit with some underground later, potential grow resource perhaps double mine life. Completing funding of cap-ex for the mine is still ahead.

When the value of NI is realized, that is even more reason PCY is cheap, cheap, cheap

http://www.marketwatch.com/story/victory-nickel-granted-environment-act-licence-for-minago-sulphide-nickel-mine-2011-08-24-82140?reflink=MW_news_stmp