open briefing, page-4

Disagree-if ni prices are still up near this level after full year results are announced then I think $4 is almost a certainty.
Too much going on for there not to be some more good exploration results.
I also think the marketwill be pleasantly surprised how cheap it is to develop Carnilya-infrastructure in place and nickel wonon the way to the new orebody at very high prices.

Interesting to note that MCR could hedge the whole of next years pdn ((that is not already hedged) at US 40000 per ton average say AU50000.
This would give NPAt for FY07/08 of over 100 mill or 50c/share not counting any new pdn that may come on in this period.