Ann: Quarterly Activities Report, page-2

Trying to post here. Not very good at posting, esp a table, so go easy.

I'm trying to work out if they are at least profitable for this QTR gone. But having trouble trying to work out the use of pounds $11-12/pound? Can anyone apply the pounds costs to my table below? Also check if my table is right too if it makes sense.

I used the concentrated QTY Mined & Shipped. at Current Market rates per tonne & at .65 AUD. I think the below is right from $ AUD view.

The Pounds do my head in. The cashflow is concerning, as it shows break even without the capital raise. Oct-Dec must improve dramatically. Hopefully they get 3 shipments in. & the Ni price needs to get above 22,000UDS per Tonne plus.