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Nova



            Track record of operational delivery









                             Quarterly Production & Cash Costs


             Tonnes                                                                         Cash Cost
            9,000                                                                                 $4.50


            8,000                                                                                 $4.00


            7,000                                                                                 $3.50


            6,000                                                                                 $3.00

            5,000                                                                                 $2.50


            4,000                                                                                 $2.00


            3,000                                                                                 $1.50

            2,000                                                                                 $1.00


            1,000                                                                                 $0.50


                 -                                                                                $0.00




                                          Nickel in concentrate production
                                          Copper in concentrate production
                                          Cash Costs (A$/payable lb Ni)


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