DF,The angle I take on the $40mm, is that on past lb/$ exp basis...

DF,

The angle I take on the $40mm, is that on past lb/$ exp basis some great resource increases coming. I do note some of this future success already in the 30 ktpa plan.

However the company will grow while resources are increasing, ie while exploration success pa exceeds production. I believe the two curves will meet (exploration and production) above 50 ktpa (albeit not all high grade). Eventually they"ll have to do the hard yards like the Kambalda players in order to sustain resources, much deeper, smaller harder to find deposits etc but imo much of that will be on their second million tonnes of nickel.

I am biased, wouldn't have 30% of portfolio in this if I weren't. Market doesn't even note A1 yet imo.

EL