quarterly activities report is out, page-3

The Nickel Marketing Agreement with FMG is now off.
Could there have been a bit of disagreement with Twiggy?

ASX Announcement 29 August 2007
Nickel Marketing Agreement
In May this year, Poseidon Nickel Limited (then trading as Niagara Mining Ltd)
entered a Nickel Marketing Agreement with Fortescue Metals Group Ltd (FMG). This
agreement had a number of conditions precedent including the approval of the
respective boards. While the relationship between the companies remains good both
boards have decided not to ratify that agreement.
Poseidon is one of a limited number of new nickel sulphide mining companies and
has the benefit of a published resource and major existing infrastructure. A
continuing review of the Windarra Nickel project by the new management is
reinforcing the Poseidon Board’s confidence in the quality, scale and timetable of the
project. It may now suit Poseidon to retain the marketing function in house or to
outsource it. A decision on this function will be made when the scale of production
and the timetable is more certain.
Yours faithfully




GZ