don't run, page-20

Hi arlberg1

The following statement about the ‘Main Zone’ in one of the recent announcements is ‘slightly’ positive depending on what you think ‘potentially’ implies: ‘Already it has the dimensions to be a potentially economic zone of mineralisation.’, as is the following statement about the ‘Northern Zone’: ’Recent drilling has concentrated on the Northern Zone where a potentially thicker higher grade zone of mineralisation is present.

I agree that the ‘Northern Zone’ is thicker but the grades are lower than the 'Main Zone' at the moment. For the ‘Northern Zone’ at present I have an average grade of approximately 1.1% Ni, whereas for the ‘Main Zone’ I have an average grade of approximately 1.8% Ni (I have not included any estimates of the PGE’s in my calculations, they may add 5-10%). Of the 21 holes drilled into the ‘Main Zone’ only 9 have a ‘reported width’ of greater than 5m and only 3 of those 9 holes have a grade for the whole interval above 2% Ni.

It looks like a lot more drilling is required before we know whether they have found an ‘economic zone of mineralisation’.