Our resource estimate has areas that have built in conservatism. Note on p 57 SRK states "Certain intervals within the historical database (within the mineralized zones) were not sampled for reasons unknown. These intervals were assigned a value of zero in the compositing process".

There are things that have skewered the resource estimate downwards. We also have the ability to adjust some of the results.

If we turn to page 126 we can adjust some of the variables from base.

If you adjust Ni Grade by 10% you see the result has moved from 13 to 16M

If LME changes from $7 to $7.7 (10%) the result again moves to 17M.

The subcaving method is able to save us more and all the financials were not worked out. For example in Table 24 on p 86. At Level 65 Stope Name 65 SLC 1HW stope mine cost S/B about $4.76 vice $35 because it is being accessed in Q4 2010 and Q1 2011 via the open pitt. This could save about $3 M.

Turn to p 127 McWatters Price Sensitivity (Breakeven Ni Price = $5.80. Notice what the Cdn $ is at $8 or $8.50.

We have the ability to over deliver - over and beyond this report. Interpretation of the charts can lead to some interesting observations. Have fun!