Ann: Carr Boyd Exploration Update, page-37

Thought you need to know something about previously explored nickel mines. Three mining companies carried out exploration on nickel mines but later abandoned them due to the collapse in nickel prices, just like Carr Boyd was abandoned. However, using new technology, like ESR are using, they have successfully found huge amounts of nickel below ground. Point being, nickel is not easy to find but with new technology, once found, as CD expects, we should see a re-rate in the share price. All it requires is patience as we are still in early days.