Agoracom

Wanderer,

Wow, that was a wonderful sensitivity analysis done by Sarlock.

Regarding production numbers and grade per quarter, I believe we originally were planning to produce for one month in Qtr. 2, June. It now looks as though McWaters pre-production date is running about two months behind.

I would think that the sill developments would follow the same time lag as far as production goes.

Tonnage would have to be adjusted, since we were previously planning one month of production (June) for Qtr.2, we now will have two months production for Qtr.3 or 20,000 tonnes at about a 0.75% grade (same numbers you arrived at ;) )

I would guess that once we've ramped to the high grade portion, and started production, our blended grades from the sills above and the hi grade shouldn't be far off the company stated 1.37% number, since our lower grades fall within a pretty tight band ie. 0.71%- 0.80%.

Since our production date still appears to be on target, I would go with the company numbers ie. 70,786 tonnes at 1.37% since mining the hi grade is after all our priority. I'm not sure about our nickel prices in 4th Qtr., but I'd sure like to see 12-13 .

My head hurts trying to predict past Q4 ;-)

Best

S