The wording of the JV agreement would be relevant and I would...

The wording of the JV agreement would be relevant and I would assume this would have been taken into consideration by Thundelarra when taking the course of action.

One could postulate that the Copernicus discovery taken to the THX/LionOre boundary at present grade and the current nickel price could possibly contain $1 billion of nickel if this ore body continues at the current width. (Hypothetical of course) but the known results to date gives some thought for optimism. “Sally Malay has reported that Copernicus is a significant discovery.”

I would not agree with one of the posters that THX is a spent force, behind the scenes this last 6 months considerable innovated work has been completed on their wide East Kimberly holdings.

Between THX and LionOre they have three drill rigs in the area and will drill out over 30 targets in the next three months. You can’t tell me the Sally Malay deposit and the Copernicus deposit are the only ones in the area. The latest Hoist EM survey results confirm the early results from the DeBeers Hyper spectral survey. The targets are all lining up in the right place.

I would not think that THX are too worried about the prospect of not using SMY mill and plant as they would only need one more discovery from the combination of all the new targets both by THX and LionOre to have enough ore to build their own plant. Keep in mind that LionOre can acquire 60% of all THX ground under their JV agreement.

LionOre are very good operators and have the know how to mine ore down to 0.5% Ni. (they are doing this in Africa) The Copernicus ore calculations to date have a cut off grade of 1% nickel. Have a look at the wide disseminated zones down to 0.5% nickel.

At both the companies share price at present I know which one I would rather punt. THX at 20 cents is far better value than SMY at 85 cents.

Here are two distinctive differences between each company. SMY are miners, THX are active explorers. This fact has been demonstrated.

Thanks for your input, its great to get everyone’s opinion.