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Proto Resources & Investments Ltd, Quarterly Activities Report for Quarter Ended 31 March 2014

Chairman’s Summary
 
“In the March Quarter the nickel metal price per tonne continued its steep upward trend that commenced in October 2013. Since the start of October 2013 the nickel price has appreciated to approximately $18,500 per tonne from $13,700 per tonne (a 35% rise). In Proto’s assessment, this nickel price appreciation has occurred primarily due to the Republic of Indonesia insisting on nickel laterite ore processing in country before the nickel product is exported to customers in China."
 
 
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