"BEACONSFIELD, TAS"																																																													
RESOURCE CALCULATION SHEET																																																													
Lower Cut-off grade 0.6%Ni equivalent																																																													
                                                                                                                                                     SCOTTS / VULCAN: ALL LITHOLOGIES															March 2001																																														
																																																													
Lithology				Ni	Co	Sc	Area	Volume	Density	Tonnes	Tonnes 	Tonnes 	Tonnes	%Ni 	Percentage																																														
				%	%	ppm					 x %Ni	x %Co	x ppm Sc	 Equivalent	Tonnes    Ni       Co   																																														
																																																													
Hematite				0.29	0.18			46262	1.8	83271.6	23830.5	15188.3		0.92	2.3%    0.9%    4.8%																																														
Limonite				0.37	0.16			205884	1.8	370591.2	135635.0	57457.7		0.91	10.2%   5.2%  18.0% 																																														
Saprolite				0.75	0.09			1272492	1.8	2290485.6	1715397.6	199959.3		1.05	62.9%  66.0%  62.7%																																														
Weathered Serpentinite				0.81	0.05			497752.5	1.8	895954.5	725297.0	46143.2		0.99	 24.6%  27.9%  14.5% 																																														
TOTALS				0.71	0.09			2022390.5		3640302.9	2600160.1	318748.5		1.02																																															
																																																													
																																																													

											
