NICKEL NEWS, page-8

Been quite some now since CR at 11 cents so unusual to see such strong supply under 10 cents especially considering the SPP was heavily oversubscribed. The Company at the time received valid applications in total of approximately $13.5 million, well in excess of the targeted $3 million. , it really does make you wonder where there this insatiable supply is coming from. The main course is Nickel no doubt but Gold and Silver sentiment is improving could also be a nice side dish. With the feasibility study approximates at around 55 000 ounces of Gold and with a AISC at $1400 AUD oz . Even at current Gold prices which have been somewhat flat and some could say disappointing are still priced at around $2500 AUD oz. Looks good fundamentally but this continued sell down is intriguing as well as very frustrating.