Ann: 300% RESOURCE UPGRADE AT RADIO HILL , page-29

300% RESOURCE UPGRADE AT RADIO HILL TO FEED FOX’S PROPOSED HEAP LEACH OPERATION
copper CU and nickel zNi

Updated Radio Hill Indicated and Inferred resource estimate 4.02mt @ 0.51% Ni and 0.89% Cu

So 1% Cu @ 4mt = approx 40,000 t
0.5% Ni approx 20,000 t

Current prices:

CU $US6,000 per tonne
Ni $US17,000 per tonne

So:
Cu Approx $US 240 million - but subtract out costs at $???m
Ni Approx $US 340 million - but subtract out costs at $???m

Seems quite a lot to me if I've done my sums right. Please check my rushed calcs everybody.