Ann: IGO to Farm In to the Broken Hill Ni-Cu-PGM Project, page-12

Depends on what you peg and when in the cycle you peg it. Multiples much higher for getting that right than say proving up a resource.

Problem is if you get it wrong it costs you money and mostly you will get it wrong in expl game. Luck involved.

Good deal or great deal can be argued either way, bottom line is that Mike pegged this ground, found his own technique to explore and has now used his geological skill set to sell this package to a highly reputable forward looking growth orientated company. This is a value adding deal and I like it. Mostly its not value add in this game.

It streamlines the company and stops the Dr having to fly accross the country for drill programs. With a W.A focuss he can line up geophysical and drill programs in a timely fashion and this is important as drill rigs are hard to come by and it pays to be able to offer extended work when negotiating what can be obscene drill costs. A stremlined focus is not to be underestimated. Mike is probably breathing a sigh of relief as this will reduce stress.

What Mike could have been doing is pegging tenenments for himself and using his technique for his own benefit.

Many if us have lined up to give Mike a kicking and some would say its deserved. But props when props is due. Proper due respect for you old timers