Ann: Quarterly Activities Report, page-17

They don’t look any better to me after further digestion with pencil paper and calculator.

Note also that the byproduct credits were likely well over A$2/lb of payable nickel higher than those prevailing now (the Co price was particularly elevated).

Could end up good but could be a few rocky quarters, possibly with negative cashflow. No top up for me at this stage. Not quite changing my sentiment to sell though.

EL