Ann: October Investor Presentation, page-17

Hard to say really? Depends on results.

Fully diluted at 10c we have an Mc of about $36 mill. Ev though is $24 mill which doesn’t include money from options being exercised in the future assuming they are in the money.

Good Nickel drill results over a decent interval could see a Mc of $100 mill or about 30c. If it turns into a significant ore body then probably 400 to 500 mill minimum I would say.

It is all a guessing game though. Have to see if we hit Nickel sulphides and then how good they are? I will be happy if we hit something that indicates we are in the right ball park but of course I’m praying for a genuine Nickel discovery.

GLTA