Ann: Drilling Confirms Significant Ni-Co Discovery at Itapitanga, page-209

Saprolite density of 2 is actually on the 'heavy' side of the spectrum.

Most weathered deposits range from 1.38 to 2.4 density. I chose what I felt would be an approximate based on the type of material...

Also, That would required a consisten 5km strike, 500m width and 12m depth. So far the depth has average 11.33m so not too far off, but the width from the magnetic profiles do not show a consistent 500m width.

You also to take note of cutoff grades (removes tonnes but allows resource clarity and for ROI to be improved) and dilution/losses.

There is absolutely no reason to panic and this stock still has amazing assets, for me, these intercepts just fell a little short of where I had hoped, mostly in the depth. Jacare was well reported to have 0-25m fully weathered zones and up to 18m of semi weathered and saprolite zones, with some areas reaching 50m depth of resource.

Salobo is still as prospective as ever and I feel (personally) that it is the company making gem. The delay was annoying but doesn't change what's potentially in the ground.

Pebas also looks like an easily identifiable target zone for testing has been defined, so it's cheap to test.

The path forward for me here is just more likely to be a more mixed solution than a 'stand alone' operation just because the size doesn't really warrant it. In this part of the world, you need to generate your own power, build your own roads and then build a HPAL plant, mining fleet etc.

That's why Jacare cost 4.5billion, the powerplant alone was nearly 20% of the cost.