quarterly report, page-2

Nothing much on those projects Mule but I like what they are saying about Wowo - an excerpt referring to findings from the feasibility study:

'The Feasibility Study completed in early 2010 provides further support that the project is economically viable based on the forecast price of US$19,400 per tonne nickel and a USD/AUD exchange rate of 0.8. The financial model yields an internal rate of return of 16% with a net present value of US$270 million. The project has an estimated capital cost of US$772M and a forecast operating cost of US$3.88/lb which places the project operating costs at the mid point of worldwide Nickel processing operating costs.'

So, main points:
- the project IS FINANCIALLY VIABLE
- capital costs of $US772 but full payback within 5 years
- NPV est. at $US270 (thats around 17 cents per share!!)
- tenament renewal for another 2 years

To me that sounds pretty darn good for a share trading at 0.6c!! This should really give the share price a bit of a kick along.

Glad I held my nerve over the last few weeks - may load up a bit more now at these prices.