Gerry,Thanks interesting summary on the nickel side of CSM.I...

Gerry,

Thanks interesting summary on the nickel side of CSM.

I would also add CSM recruited new executives with Nickel expertise early last year.

The Nickel strategy looks like a typical CSM well considered thought out plan by a good management team. No seat of the pants opportunistic play.

ATX are happy with CSM mining and transportation expertise hence the agreement leaves ATX in control of the exploration phase with CSM controlling the mining.

Question is with CSM deep pockets and a desire to add Nickel to the product range for China / India how long before mining starts?

If successful with REM the strong CSM balance sheet will see current production stepped up quickly and significantly.

2006 will be interesting with increased managanese & chromite production being augmented (IMO) by nickel.