The Board of Proto Resources & Investments Ltd (“Proto”, the “Company”) is pleased to
announce to market an update on the Company’s project activities. The Company is pleased to announce that the discussions with the Company’s potential cornerstone investor and project investor are going well and a further update in regards to this will be made in the coming weeks.
The market price of nickel has increased from just above $14,000 per tonne at the beginning of February, spiking to approximately $21,000 a tonne in early May, to balance out at approximately $18,500 to $19,000 per tonne in early June 2014. Proto is very pleased with this corrective nickel price appreciation as it will help Proto develop the Barnes Hill project now that new nickel metal pricing drivers are in place. Proto is very confident of the future of the minerals industry within Australia with the twin long term benefits of potential high margins and strong demand exacerbated by the previous under investment in supply from mineral projects.
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