That would be my understanding Helmenesh. Once the decision to mine has been made the structure would change. From exploration licence to mining licence then, as you say, any development of the project (including exploration) is to supplement the mining operation. There would be some pretty heavy pushback on the decision to mine I reckon. WSA would want a robust project with plenty of resource/reserve ore to put thru a mill, so I expect their attitude would be to shore up the tonnes first, then we'll mine. But I reckon the banks or anyone else involved would also want to see a JORC statement that's bullet proof (low nickel prices).
SGQ Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
