Ann: Mirabela Nickel 2011 Annual Report , page-2

Nothing new

skeleton out of the closet in january

They had a loss

Have a reasonable cash position

Ramped up to potential 22000 in Q1 2012

Have some drill reasults to be released in march

Hinted that if things go a bit pear shaped may have a cap raise

The 2018 debt hangs over the head

If they can get expenses down to $6/pd

If nickel, copper, and cobalt maintain levels they could get a good result in Q1 2012 $3.5 profit per pound on nickel alone discounting copper and cobalt

Profit in the 100 million plus by Q2 2012 abeit things remain normal

By the end of march it may be at least 1.20s

Certainly upside

Div however might be a few years away yet if ever (haha)

I am optimitist (Some has to be)