history lesson, page-9

I4I

I have done quite a bit of research into smelter costings. SMM has a great smelter albeit smaller than normal in Philippines. Built at a cost of 700m usd as opposed to $2b

Even the smaller plant is not running to capacity all on supply restrictions

Irrespective of the cost the ore processing doubles the value of the saleable product. On confirmed kaiser report numbers we minimum 6b of nickel. Even if the smelter charged us 10m a year for 12-15 years it is still a lot cheaper than funding a 700m capex project and slows production