After the PEA comes out I expect NKL will be much higher. How much... I don't know, but I would say the basement price is a billion when the markets become rational. I say this because...

I think our metal is worth NO less than:

Ni .05/ LB X 2.5B Lbs or $125M

Cu .02 /Lb X 2.4B or $50M

Au $50/oz X 2M ozs or $100 M

Pd $50/oz X 4.25M ozs or $200M

Pt $100/oz X 5M ozs or $500M

This also says nothing of our other Platinum group elements or cobalt. Or any premium associated with our asset being in Canada, permitted before in the past, ect ect.

Most companies would be happy to have a near surface deposit with only one of these metals at these grades. Because we have more than just one metal at minable grades this also gives whoever buys us out some diversity so their bottom line will not be hit as much if the one metal they mine takes a hit in sales price.

All of us are looking forward to seeing the PEA. I look for a IRR of no less than 60% for the entire deposit.