Ann: BFS supports strong commercial case for developing Sconi, page-841

From 05/11 ann, these are not the average grades. I get 0.05% for Co and 3,659ppm (.37%) for Ni.
I see you used a cut off grade for your averages of .1% Co to get your .216% average and disregarded anything below that (104 out of 662). Same for Ni, again you used a 1% cut off and disregarded anything below (62 out of 662).

- Average for Lucknow is .076% Co and .31% Ni
- Average for Greenvale is .036% Co and .40% Ni

From 14/09 ann
- Average for Greenvale is .033% Co and .50% Ni

I'm glad you said NPV of $1.3 to $2bi is your opinion because it's just a stab in the dark. It won't get anywhere near that, imo too. We'll see who is right in APR-JUN next year.