Ann: Acquisition of advanced high grade Ni-Cu sulphide projects, page-61

Hey mate, investing in an explorer and an ex producer have different risk to reward ratios. An explorer is higher risk but has higher reward (can provide multiple bags if successful on hitting ecenomic mineralasation) and a Ed producer is lower risk as all the ecenomics are known but it provides less reward.

TTW has already hit high grade sulphides near surface and it is close to the Sudbury region where there is toll mills, smelters and concentrators to process the ore. So the path to production relies on finding a feasible deposit or multiple high grade deposits like TTW have.

So you can invest in an explorer (higher reward) and if you have done your homework it takes the risk out of the investment.