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RIO walked away from it when Copper was 65c/lb and Cobalt about 8 bucks a lb and Lead about 20c/lb and Uranium at 8 bucks/lb ??? ... but the retained a ROYALTY just in case which was later equitised by CMR's "vision". METAL PRICES make a project. What are metal prices NOW and where are they headed from here even after the usual tech retraces ???. And with Oz's fast DETERIORATING CAD/GDP (worse than USA's atm), fuel to our fire ?

Sulphides DFS is supposed to take 18 months from last November with 2011 target start-up the last I looked. (Thats the second separate HNC JV)

Hasnt it been reported in past that HNC will take all the Co-Ni? Look again.

Last I looked first sulphides concentrates batch already the focus in Perth for HNC PRC plant to look at ...... they aint slouching.

I hope we will see a HNC sulphides decision mid NEXT year ... but yeah allow for usual. My long term cosmics astrologer said 2009 if u recall haha. Anytime 2009 is OK by me if we get a billion buck "go" from HNC for half cos that would value our half same billion bucks ... thats 7 bucks a share sulphides increment .....and am sure HNC expect to be making some PFOFIT out of their investment ......... 20+ bucks sulphides increment NPV ???

Meanwhile dont care what week this year oxides start-up so long as we see ramp up thru 2008 for full earnings rate by end THIS year. (Thats the first separate HNC JV for which we effectively owe zilch)

And meanwhile 15 mill exploration / resource upgrade drilling THIS year and each year next 5 years (70% paid for by HNC ...... thats the third separate JV)

Have been dreaming about this isnce 1998 and waiting on it since 2003 but KEENLY supporting it since 2005. It takes 10 years for big project to move from dream to reality ..... thats the norm ..... and then u dont stop it for the next 30 ....... for the hundred+ bagger from start.

Its all closing in on the quantum leap IMO and in a megabear broader market mood just to make it interesting, tho same drivers for broader market megabear should set us up for megabull third in resources based the USDX demolition underway. Cant see that changing mid term but can see it deteriorating further.

Anyway I try to put things in portfolio context ..... I maintain 50% cash for all contingencies and opportunities ..... but ARK theory is about to be initiated and realised over ensuing months / years. If the Jungle King doesnt succeed, what chance the rest? My main concern right now is how safe my CASH AT CALL is sitting in the 4 major banks !!!

Its all L/T CORE holding portfolio setting atm for mine ....... the S/T traders increments still to come trigger at 192+ IMO ... waiting for the market to tell me ... and still licking my lips to any ideas of lower pricing at this stage of reality developments to reduce my concerns about bank deposit SAFETY.

Reward / risk / portfolio risk management / gutfeel speccing all in combo ......... exhilirating for me. But may not be yr cup of tea ..... maybe MQG is instead.

Get all yr Q's ready for the AGM ...... that too should be "exhilirating", espesh if Cuzo is there haha.

Personally I think the boys will come thru with flying colours cos that early kick up the butt, no matter how frustrating for all of us, may ensure no repeats in the big stuff ahead. Oxides is irrlevant for me at this stage given ridiculous market cap ........ its priced like a spec again at 0.5% of IGV YET with a debt-free, paid for plant about to bring home some realities.

IMBOOC