Mt Venn has proven widespread nickel sulfides based on work to date and potentially hosts one of Australia's greatest nickel sulfide deposits. It also has a lot of copper and IMO its still the jewel in the crown for GBR.
Even in its current under explored state, Mt Venn has got to be worth more than five times GBR market cap and with a bit more work could easily be worth more than 20 times in a relatively short time frame, however the work will take money and expertise. Its my preference for GBR to go it alone, but we need to get the share price to several multiples of where it currently is before tapping the market for more funds and this is where the current gold exploration comes in. The current nickel survey at Whiteheads near recent ESR discovery could also do it for us.
A JV could also be an option but only at the right price to a cashed up partner, with GBR retaining at least 50%. Based on the potential, FMG may see it as an attractive proposition in its search for diversification from iron ore and they could always offer to buy us out down the track once they hit pay dirt.
GBR Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
