Ann: Quarterly Activities Report, page-17

I agree with you and Six Thumbs points, it would be hard to provide enough material for a plant that size, less than half of our planned drilling of 75km will make it into the next update so there's definitely more chance of a bigger project down the road. Can anyone confirm what portion of dirt needs to be in indicated to qualify for the SS?

I enquired as to the potential capex of the PoX addition to our broker who has a good handle on existing Nickel mines but he was unable to provide much of a range due to the range of chemistry outputs. I can't see how in any situation (sub $100m) it isn't worth it when considering the projected output. 20mt x USD16k/t = USD320m vs 75% payability for a concentrate which chops off US80m.... It has a one year payback and will push any DCF significantly higher.

The improvement in operating leverage from the 25% increase in sales price is a no brainer when then the increase in opex is low due the available cheap electricity.