13th October 2008 MUNALI NICKEL PROJECT UPDATE KEY POINTS • First revenue from sale of concentrates received. • Appointment of new General Manager – Munali. • Final completion of construction contract achieved and construction contractor demobilised from site. • Commissioning of the processing plant is progressing well with 900ktpa (2,465tpd) nameplate capacity being exceeded on a number of occasions. • Dedicated power line to Project completed and energised. • Mining development rates on target, stoping operations commenced. • Final draw-down of US$10m – Barclay’s senior debt facility.
ALB Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
