Why I think that if IGO bids it needs to be at least $4.00 per share., page-16

BHP completely benefit.

Secure Odyseuss feed that, unfortunately, is currently being negotiated with Japanese and Korean interests.

Nickel West relies on this feed and IGO are running out of nickel at Nova.

So potentially, Nickel West in five years time - has hardly any nickel feed from IGO Nova and can't secure nickel feed from WSA that has been negotiated to other players - Japanese/Korean.

To talk about market caps and not the strategic importance of feed for Nickel West is just noise.