Ann: Mining 2011 Conference Presentation , page-4

Well it will be quite interesting to see what eventuates from the drilling at Koonenberry this month in my opinion. It could very well be that they are standing atop a magmatic ore deposit rich in nickel and platinum group metals - but we will have to wait for the drill assays. Importantly, this prospect is quite large in size, so the sky really is the limit. If it comes up empty, they will ditch it and move on as per the CAP exploration strategy. But if they hit the good stuff, you only have to see what we achieved at Hawsons in 2009/2010 to see that great things could be made of the tenement.

Originally I didn't quite buy the story with Koonenberry. I questioned why Vale would hand it away for next to nothing if it was worth anything - but something tells me that Nick's history with Vale Inco has something to do with CAP grabbing a hold of this asset. Nick would have a pretty good understanding of what could be lieing under the ground there which could explain why management have moved with haste to acquire the appropriate exploration licenses.