Ann: Segue and MMG Limited Enter Into Plumridge Nickel JV, page-87

I'm not down ramping SEG and will continue to hold as I believe there is more discoveries to be made, but the only good thing about MMG coming on board is we stay afloat for the next 3 years using their cash.

To put it into context, a company like MMG is taking a chance and rolling the dice. The investment in SEG (circa $14m) represents around 0.6% of their yearly revenue but spread over a few years. Chicken poo in the scheme of things. If MMG strike, great, if they don't it will not bother them in the slightest. They are trying to diversify their portfolio of base metal projects to balance the global shift from one metal to another.

I'm looking at this now, that I would rather have 30% of something, opposed to 100% of nothing.......This still has potential for "XX bagger" written all over it, just a lesser multiple than when we started........

Finally, only IMO, I believe this will also give SEG the opportunity to now investigate a consolidation now we have some financial stability for the near future. just my opinion.......

Bottom drawer for this puppy for now............

GLA.