Hi guys

Salman Brothers was there - he gave an update on the Ni prices

Ni is expected to go up. Chinese stockpiles are decreasing - they have a stockpile of stainless steel but Laterite Ni is getting more expensive and the cost of coal is increasing. We know most of that stuff.

All directors have been re-elected.

Shareholders rights plan was approved.

Powerpoint presentation was very interesting. They are heading up to Timmins and Chris is going with them so presentation will not be available until next week.

McWatters should be starting preproduction late July- beg Aug 450tpd. Full production Dec.

Since production will not be until Dec, most of the revenue will be put against the price of the mine and Redstone revenue will be posted as revenue. We have been approached about some custom milling work and that choice is being explored. It sounds like we have the capability to do that. Sep the mill will be upgraded so that platinum and gold credits can be separated so we will get increased credits for that.

Hart - they are very pleased with it. The air-noice permit is done, the site plan is ready, lease application is in progress.- this takes a good year - goal is the 1st May . Closure plan to be done in approx Jan, Water applic needs to be worked on. Feasibility study for early next year. Goal is to be in production during the last half of next year.

The site at Hart will not have as much work to do. The First Nations Agreements are done for the Shaw Dome. The natives have the right to hunt, fish and trap on crown land. We have to compensate then for using crown land and that is why the agreement is so important. Sothman, Groves, McAra are separate.

Hart has been drilled the 460 level. The deeper the drilling - the wider the spaces at depth and therefore the deeper drilling will be done from within the mine to increase the resource.

Our McWatters feasibility was done at $12.50 Ni prices. $10 Ni prices has effected the revenue picture. That is why forecasted higher Ni prices will be very important at increased production rates. That is why the custom milling is being examined. Gary said he will "do whatever it takes".

Redstone shaft is on the back burner.

Groves we are doing some ground exploration on. Historical drill results are shown on the web site. Before the previous company went bankrupt they did some drilling at depth and they showed better results. There are PGM and Gold credits there. There is a gravel road from Redstone that is very close to Sothman and Groves is in line with that property. There is forestry land in between where a bridge has already been built so to get the total road in place will not be a major project. They are mapping the property now and are planning to drill 4 or 5 holes.

McAra- they will drill at the Ray Claims.

At Redstone when we start milling 1500tpd it will cost us about $3.00

Xstrata's Montcalm mine will be finished in a year or two. They will ;need or to process through the mill. That is why they were so willing for us to work on the Sothman project. They will need concentrate for their mill.

With McWatters at 1200 tpd, Redstone with greater then 200tpd and then Hart at greater then 1000 tpd (feasibility study not done ) you can see our production figures are increasing. Our mill can handle 2000 tpd and Xtrata will process the rest. Hart has the road in place, tailings pond at McWatters, Electricity (in place but they will increase the line capacity) much of the initial leg work is in place.

I gave Chris Buysen a heads up - I said we will really know that we are in the up and up when we see him buying shares. It is going to take time but we are getting closer. We are almost in July now.

Anyway, I am sure others can add or correct me. These are just a few notes.