Ha ha! strange one indeed, but as per figure #2 it's a decent...

Ha ha! strange one indeed, but as per figure #2 it's a decent arrangement for the current tenement holder. He/she gets $40k worth of MHK shares but retains the low hanging alluvial gold finding option for 12 months and MHK gets the ground for Nickel exploration.

The last two tenement acquisitions in this area show that the team is seriously focussing on their own Nickel exploration, while WSA might've slowed because of the recent IGO acquisition process. Whether it's IGO or BHP or FMG who takes over WSA, we'll potentially have a major as the #1 or #2 shareholder on our register. The downside is that we may be a small blip in their exploration programme. Looking forward to see how the new Chalice gold spinoff IPO would progress in Q4. Both these have slowed the JVs quite a bit, and that uncertainty is reflecting in the share price I believe.

I am still holding my full lot, especially after looking at the recent Top20 released in Jul, showing close associates of directors loading up big time and a tightened register, in addition to the fact that the directors are so hands-on and active on the field. Risk vs reward is compelling for me at this level.