Ann: MBN Update 18 October 2013 , page-12

Topo good response

to me the anno today points towards the assumption that Bradesco now cannot call the loan legally as the contract still valid

so immediate danger subsided - also shows that if not - we would have been done and dusted now

so now space to find new buyers as I also think this contract as today;s anno points out may be just saying ' we will buy some' but not how much - need a new serious taker

anyway - while this smelter closes - Voto still have 2 more smelters, plus the harbor to ship nickel worldwide

so administration may be less the question for now

they will find new buyer directly in China my guess - giving them Chinese equity and a better deal

company continues and shares recover to 8c by Dec