Ann: Change in substantial holding, page-62

MBN Infrastructure is about a Billion $ having a 7 Meg Ton Name Plate Capacity Crusher.
A very Big Open Pit Mine. Our Reserve is about 14 years mine life. This makes a very big difference
with PAN and MCR as they have only a few years of Recourses. AS you can see with MCR, they are
to cut production as the Ni Pr is too low. Why? Surely you wouldn't want to sell your limited high
grade resources to this miserable Ni Pr. It will be the same with PAN. When Nickel price recovers,
they won't have enough recourses to mine and sell when they continue to maximise output at low Pr.
As with MCR, when output was lower in Their Q1 2015 than in Q4 2014 their COP went up.
The lower concentrate produced, the higher the cost. We will soon see more mines cutting production
to save recources but not MBN as we have a constant Ore grade and a vast 14 years resource..DYOR