Ann: Diggers & Dealers Mining Forum Presentation, page-32

Quote from BHP diggers and dealers presentation - “To underscore this point, this year will be the highest annual spend for exploration in Nickel West since BHP acquired the WMC (Resources) assets in 2005, a testament to the focus and commitment BHP has to its nickel business right now,” she said. “We have a large nickel sulphide resource with in excess of 7.4 million tonnes of nickel in the Agnew–Wiluna belt that still remains largely unexplored,” Farrell said. With 75,000 hectares of exploration potential within the Agnew–Wiluna greenstone belt, BHP plans to spend more than $140 million on brownfield exploration in the next two years to further understand the tenure.

What was ARL's nickel resource again, I forget. MC $170 mil - fair enough, still several years to expected production, so you either you believe current management can deliver or you don't and Nickel has a long growth pathway or it doesn't - simples. DYOR