Solid progress.We're treading into new realms for me in terms of...

Solid progress.

We're treading into new realms for me in terms of knowledge of experience, so I'll not pretend to be a master. The market will likely decide more accurately than me. However...

• The nickel-mica association is a very interesting turn. Mica is easily crushed and therefore could further aid the targeting of the ore and the refinement to a higher grade product
• Great to see that studies on the mica front will not impact overall timelines
• From first pass, nickel recovery rates of approx 75-80% from such a simple, low intensity and very low energy process is really encouraging. Also reducing overall mass by 50%
• Next steps... can this be further reduced, and can this move towards a 1.5% or so nickel grade? If so, because it would be a direct shipped ore you can make money off this. After all, that's what we're all about here. Yes it's a nickel oxide, but it's free dig, low strip, and simple benefication, with the potential to simplify and purify even further.

A vital step towards scoping study. Could be a big year and if all goes well, a $50-100m market cap depending on results.

That does not include the potential for what lies beneath, or for Yuminary. Note, this would be a valuation for a DSO ready company