The management has stated on the conference call this morning...

The management has stated on the conference call this morning that the costs will reamin more or less the same (in $ dollars) whilst the production will increase (higher grade, throughput and recoveries). This should result in lower cash costs down to $6.00/lb (and therefore increased cash margin to pay down any commitmments) Alternatively, they will consider amongst other options partial sale of asset (rather than consider capital raising at these SP levels).

Whilst I am holding out for the LT I expect a couple of kickers to the share price in the near term

1) ban on nickel ore export (Indonesia) expected in May
2) continued deterioration in Brazilian curreny vs USD (currently around 1.90 vs 1.77 in last qtr