MMB well worth a look then lenovo - they have three projects in...

MMB well worth a look then lenovo - they have three projects in that region and a couple more in the Kimberley. I don't think you can consider them an outright spec any more and shouldn't be priced as such (though the WA projects are). They've been doing close spaced drilling for some time and there's enough to go on to calculate a ballpark resource for Ontario.

My ballpark came up with around 45,000 tonnes of Ni - just as a byproduct of PGM production (my estimate is 15 mt-20mt @ Ni grade of 0.2-0.3%). Since POS has double the market cap on a resource of 88,000t that may make them the more "fairly valued" though I guess we have to wait for the JORC to prove this one way or another.