Hopefully we don't have to sue but if we do claiming the NPV of $309 million is the right action.

 

NICO Gold-Cobalt-Bismuth-Copper Project Highlights

?

 

Positive Front End Engineering & Design Study (FEED) completed in 2012 based on a vertically integrated mine & mill in the Northwest Territories & refinery in Saskatchewan

?

 

FEED - ~30% of detailed engineering complete for procurement

?

 

Robust economics – generates NPV of $309 million* – highly leveraged to increased cobalt & gold prices with low downside risk

?

 

Negative cash cost – cobalt cash cost (net of credits) of negative US$0.81/lb at Base Case prices & negative US$1.07/lb at Current Prices

?

 

High-grade deposit of combined gold, cobalt, and bismuth co-products plus by-product copper

?

 

Positioned to be one of the largest & lowest cost suppliers of cobalt sulphate to the rapidly expanding battery sector

?

 

Very advanced project with $100 million already invested – including pilot plants, test mining and extensive permitting work – resulting in planned production in 2015

?

 

Strong management & board with experience in mine permitting, development & operations