Ann: Investor Presentation, page-31

Hi Wasa
Sorry, I did mean Q3, second half of the year

No, at the moment they dont have funds at hand but there is a resource as I said of 100 000t at 10.1% , combined with the further resources totalling 3.6Mt
They are planning to mine the higher grades first and one possible scenario (IMO) could be to start on Toll case first , mine the high grade and then invest profit in a processing plant.... would probably get enough to build it from that first 100 000t alone (10%Ni)

They would then only need to raise funds in the beginning to build mine and infrastructure .... $20M

This seems like the obvious thing to do..... IMO ....especially if resources are expanded and increased as expected.

As to raising the funds, not sure how but IMO it shouldnt be difficult given the resource available



The current CR is $3M which should see them through till end of year and allow them to purchase the options on expanded areas.

have a look at the Bell Potter scoping study , and the Breakaway Research March update as well as the investor presentation.

They show cost projections on either a Toll case or a Base case scenario. Base case has a higher cost of the processing plant built in at a total of $85M

Mining costs have been estimated at $207 t . The investor presentation also states mining costs at about the same level as other miners.