That's a pretty penny.
I think creasy got about $6million in shares, kept 40% of the nickel project and a free carry on exploration cost.
He had 4 holes I think drilled from memory, so while he had proven there was nickel, his price was quite alot higher, I think it's too rich also, but the thing is when you take shares you are gambling on there actually being sth there, if it blanks off you aren't ever seeing $3million value for those shares.
Only when the drills roll in will we know if it's worth the price.
Ann: Errawarra - Acquisition of Outstanding Nickel Prospect, page-3
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