Good news about the Preferred shares rate being locked in at $0.11.

Also good news about the additional resource at McWatters.

The 43-101 technical report dated December 16, 2008 for the McWatters deposit shows the existence of an indicated resource of 1,703,289 tonnes grading 0.49% nickel. Upon completion of the financing, a study will be underway to develop a plan to mine up to an additional 1,000,000 tonnes of mineralization at McWatters. A preliminary estimate and updated reserve calculation for the McWatters mine will be completed as soon as possible to investigate that scenario.

From the interim Technical Rport for McWatters dated 16 Dec 2008

Page iv

714,870 Tonnes @ 0.94 % Ni

The quote above in this PR shows an indicated resource of 1,703,289 tonnes grading 0.49% nickel. This is an additional 1,000,000 tonnes of mineralization. Certainly good news.