The following two paragraphs are from the recent new releases.

LoM NSR revenue based on plant feed of 259.9kt at 1.04% Ni is estimated at $ 29.8million. LoM costs are estimated at $18.5 million for operating and $8.4 million for capital. Undiscounted pre-tax LoM cash flow is estimated at $2.9 million, yielding an IRR of 116 percent and an NPV of $2.3 million at an 8 percent discount rate.

The Redstone mineral resource estimate by SRK at a cut-off grade of 0.51% nickel ("Ni") consists of 599,000 tonnes in the Measured and Indicated categories grading 1.47% Ni and 0.02% copper ("Cu"); and 737,000 tonnes in the Inferred category grading 1.57% Ni and 0.03% Cu. The Proven and Probable Mineral Reserves were estimated at 259,900 tonnes with an average grade of 1.04% nickel.

The remaining is my personal extrapolation.

There is another possible 1.3M tonnes @ appox 1.50% Ni that are in the Measured Indicated and Inferred categories. I wonder when these well be further delineated?

I've used the operational and capital costs as per the Redstone Ni41-101. No consideration for additional capital costs to get at the 1.3M tonnes sometime in the future.

LoM Undiscounted Pre-tax Cash Flow (Millions) for 259,900 tonnes at various ore grades and metal prices.

It would sure be nice if we don't prove up additional reserves just in time to turn them over to J.J.

BubaBob.