Ann: Quarterly Activities Report and Craig Oliver, page-3

re: Ann: Quarterly Activities Report and Crai... Hi Lockley,

You are right we are still far from the $8 mark for this share but one thing we do know and that is that this company is going to make some real good profits from now onwards.

They have now proven that they will produce 25000 tonnes of Nickel per annum and probably even more.

With a production costs around the US$3 mark you can do your own calculation how much this company is making with a Nickel price around the US$9 /lb

Revenue under this scenario after production costs would be around the US$330 Million.

Not bad at all imho and this will mean a healthy dividend stream for the shareholders as WSA wants to return 50% of profits after tax to its shareholders.

It just shows that High grade is KING as the figures speak for themselves even today in the low Ni price environment.

And if the find another golden Quoll we will be off and running to even greener pastures.

I am looking forward to our next dividend cheque and from now on every 6 months.

And..... if the Ni price holds or can get stronger we should be able to creep towards the $8 given time.

Good luck to all holders

jojo