NGD » Topics » NSR= Revenue of Recovered Metals - (Smelter Cost + Refining Cost and Penalties + Royalties +Transport Costs)

This excerpt taken from the NGD 6-K filed Apr 23, 2009.

NSR= Revenue of Recovered Metals – (Smelter Cost + Refining Cost and Penalties + Royalties +Transport Costs)

PGM measures the NSR in Australian dollars and the NSR grade (NSR/tonne) is measured in Australian Dollars per tonne (A$/t).

PGM calculates the NSR within the resource model using the criteria shown in Table 17-65 to Table 17-67.

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