for people following (gme)..

hi guys/gals

we talked yesterday about (gme)..

see below e-mail i got today..hope it helps..

Hi Stephen,

Thanks for inquiry.

With regard to break even costs, GME is still in the process of finalising the purchase of the remaining 60% of Niwest from Western Metals. As announced, a rights issue to raise approx $5.0m is being written at this time. Studies on the costs associated with mining and processing have not yet started. Minara Resources, Murrin Murrin treatment plant is located nearby and at some stage in the future we envisage commencement of discussions regarding a third party treatment arrangement. The infered Nickel Laterite resource contained within the Niwest tenements is stated at 128m tonnes @ 1.00% nickel and 0.06% Cobalt( Using 0.7% Ni cut off grade).Balance of capital raised (after acquisition costs and debt repayments) from the rights issue will be directed towards confirmation of the high grade areas of the resource which are stated at 38.4m tonnes @1.3% Nickel and 0.09% Cobalt (using a 1% cut off grade) and further metallurgical test work.

At this point I cannot give you any time as to when mining will commence as there is a lot of work to be done on the resource.
Announcements regarding on going work programmes will be made as we progress.

I trust this satisfies your inquiry.

Regards


Jamie Sullivan
General Manager
GME Resources Limited