Ann: Exploration, Development & Corporate Update, page-184

Only possibly postponing elements of the Mt cobalt program which most liely means the Mt Cobal drilling all together.....

the drilling contractor is
implementing several changesto improve productivity. The hole isstillsome 130 metresshort of the design
depth of 450 metres, but has recently penetrated the magnetic target1 and the last three metres of core
recovered from the hole exhibit an increasing level of magnetite and sulphide mineralisation in the dilated
fractures, with the density of dilated fractures increasing over the last ten metres. The Company is
considering options for the remainder of the program but given the over‐run at Pembroke and increasingly
unsettled weather over the summer period, it may postpone elements of the Mt Cobalt program.

So Pembroke will be finished and Mt Cobalt left open....I guess they may feel that they will achieve the desired result of the program based on the confirmation of sulphides increasing in the last 10 metres...no need to drill Mt Cobalt urgently if the pembroke mag anomally is returning 150m of 5-10% nickel sulphide from 300m depth...who knows what from surface.

So yeah they may be confident they will get there supportive SP value in conjunction with G2 sales in Jan/Feb to not need allocated more resources to Mt Cobalt just yet.

Isnt the fact of the matter that if pembroke anomally checks out....they all check out....so goal achieved and they cant go drilling hard core in 3 months time when sales are bringing in $500k plus per month.

All imo

The drilling component of these ann is not a negative in any shape or form...if the dificulty is similar to previous drilling where the cores kept crumbling and falling in which slowed down drilling even at shallow depth....now at a lot deeper depth, it may support the favourable metalurgy and amenability to ore sorting.

Just some thoughts...but in any case pembroke will be completed!