As an existing holder of SMI, I really dont like the RTO, too generous to "outsiders" IMHO. Could be easily fixed by allowing existing holders to take a bite at 0.3c too, just scale back the pattos placement. The~ 600M to the old Mekong holders is fair considering what they are bringing to the table. I tend to concentrate a lot on the geology as I tend to invest longer term. So am interested in the how the Ni is hosted and the structure of the dyke (assuming its actually a dyke and not something else re-oriented by tectonics as implied by the Kingsgate recon) Ultramafics can be up to 0.5% Ni just as background within the Olivine so multiple hits around that range are not anything to write home about. That Ni is not extractable, but a good sulfide phase might be. There was a decent Pt hit was in there from trenching as well. IMHO the failure and CAPEX blowouts in the Ni Laterite hopefuls (CLQ,AUZ etc) might put focus back on Ni sulfide exploration.
SMI Price at posting:
0.3¢ Sentiment: None Disclosure: Held
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