I think we have to come to grips with the fact we have lost the status as an exciting new speculative play. That phase is over and like all other such plays before us, fortunes were won and lost. Now it is hum drum prove what we have and continue to look for more scenario. We have a proven nickel resource and the value of that changes with the price of nickel. The market has already detirmined the ratio of insitu vs mined value and until the company comes up with a better cost structure or finds more, we will fluctuate with the price. We have some idea about the worth of the chromite if anyone needed it but really and truly, until there is a plan and a proven resource estimate, the market doesn't know what to make of it and frankly has not valued it at all in my opinion. For instance why isn't KWG trading higher with Cliffs involved? It is still at the same level it was when the news came out and is less than it was six months ago.

There are a number of factors that will improve our lot and therefore the markets valuation of us. First, a widescale economic recovery and a need for our particular commodities will increase our value. Secondly, government assistance with year round transportation access will help with infrastructure hurdles that all are wary of at present. Thirdly, a major who wants to supply the world with the metals we have would be desireable. Cliffs is only one that has come forward and the huge entities like Vale, BHP Billinton or XStrata are not the only companies to look for. Companies like Teck, Rio Tinto and numerous steel industry suppliers of chrome, nickel, cobalt, titanium, vanadium and iron ore could be possible suitors. Producing the ore bodies ourselves sets up all kinds of challenges with financing in ten figures, developing markets and controlling construction costs. Fourthly, news on competitive operating costs and profitability due to confirmed mining methods and use of energy efficient technology will open the markets eyes. Last but not least, increasing nickel reserves is important.

In summary, although NOT is being played with from time to time, we are now reliant on a solid business case that considers the points above.

Mike