Oxford Don,
I very much doubt that applies to byproducts, can see some farcical implications if it did.
Regardless, if it were so surely STB would be trumpeting the fact with every great PGE intercept. As they did with the gold. If your interpretation were correct, then IGO would also need to be pointing out to there holders that the PGEs were valueless to them, which they very clearly are not doing.
It"ll take a lot more to convince me, but as a holder of twice the fraction of STB as of IGO I am personally almost nuetral as to effect.
I could agree with you if a PGE discovery were make with subeconomic nickel grades.
EL
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