upwards revised earnings estimates , page-7

MD

I have now checked with management and what you have said has either severely distorted the truth or is patently misleading!

The issues with the utilities plant has been well disclosed to the market and both short and long term solutions have been advised. Additionally, all brokers have provided comment on this.

You represented on 25/06/06 that costs are running at "more than twice Nickel West assets". Costs are perhaps 30% more on most broker estimates for the reasons outlined in the reports, so you have essentially fabricated this completely.

I have been advised that there is an acid exchange agreement with BHP and once the issue is dealt with you may find that there may be a net export of acid from Minara.

There are no expected acid issues relating to the heap leach project.

It is probably fair to say that the concerns regarding the plant are fully recognised in the current price relative to virtually all international and domestic comparables but there will certainly be volatility (plus/minus 20%) until the plant issues are resolved.

Despite the issues raised by you, I understand that one of the world's leading hedge funds has taken a recent and significant position in the company for precisely the reasons I have outlined.

Mate, there is no compulsion to be an investor in this stock.

Finally, I don't see the point in your abuse of everybody who disagrees with you (markmrau, me and others on the MMX thread are there for all to see).

Eos