Ann: Quarterly Activities Report, page-9

The Company’s RKEF operations delivered EBITDA of US$100.2M during the March quarter, an increase of 11.3% from US$90.0M in the December quarter. This comprised EBITDA of US$30.1M from Hengjaya Nickel, US$7.4M from Ranger Nickel, US$61.1M from Angel Nickel and $1.7M from Oracle Nickel1.

EBITDA from Angel US61.1mn on lower costs is awesome. Like for like that should mean Oracle when at nameplate will benefit from the same reduced costs so that gives RNI + ONI qrtly EBITDA @ 120mn USD. (so next qtr if same same that puts us in the 160-180mn USD EBITDA range + mine expansion EBITDA growing)

That is annual EBITDA ranging 640-720mn USD......midpoint 680mn USD in AUD 884mn EBITDA.......sound about right? Stock is SO CHEAP it is crazy.....