Ann: World Mining Summit Presentation, page-2

AUD 250 000 000 (roughly) to develop mine

6000 tonnes per year MSP production

AUD Cobalt price roughly $85000 per tonne (50% of Mixed Sulphide Product)

AUD Nickle price roughly $17400 per tonne (50% of Mixed Sulphide Product)

AUD 51200 per tonne - $50 cost of production = $51150 (they say they can get 80%)

So $40920 x 6000 tonnes = $245 520 000 per year, pay off in a little over one year.

Then 20 odd years production with a quarter of a billion in revenue per year, not accounting for increases in Cobalt and Nickle prices..

Does this sound about right?