nickel project., page-2

freespin. Working out values of assets in the ground is always exciting but in reality dont add much value unless you can get it out of the ground and then how much of it you can get out every year.

For this project the easiest is to look at previous announcements where they are targetting a profit of $8-$10 per tonne and are hoping to reach 100000 tonnes per month next year. So $800k per month times 12 months is approx $10m. With growth plans you can give it a 8 times PE. $80m with 133m shares on issue is approx 60c. This does not include any increase to production and nothing for a world class Molybdenum project which is now fully funded into production by Guangshou Group. So even $1 share price is quite achievable over the next 12-18 months.

I hope this helps.