geo input required please

Need a little input here from the market gurus and geos …..basically trying to evaluate the potential of MMB’s Red Flag region at Laverton (NI project) which runs next to and, in one part, through NIA’s Windarra project

Questions for geos

1. Are MMB directors right in their claim that the geology is similar to NIA’s Windarra project? (the best maps appear to be on page 10 & 11 of MMB’s 26 oct AGM report) – to the naked (uniformed eye) it looks similar.
2. MMB claim that the “basal contact” has not been effectively explored – this is interesting, in that, NIA in the latest report are waiting assay results on NMD0009 -“5m of massive sulphide on Basal ultramafic contact” – what exactly is the influence of the basal? and why haven’t previous lease holders nailed this potential aspect?
3. Previous lease holder (it was WMC at Windarra, not sure at Red Flag) looks as though they have drilled MMB’s Red Flag region with a number of holes showing >2000ppm. How significant are these?
4. Is there any geological correlations of drill results that can be extrapolated from Windarra to Red Flag…i.e the proximity of some of the drilling at Windarra…NDM004 and NDM004a at Dennys Bore being only metres away from MMB’s lease
5. any other interpretations obviously appreciated

Market gurus

The NIA price has risen from .50 (post 1:2 reorg) to $1.50 basically on the back of injection of “Andrew Forrest and associates”, nickel management and drilling results at Windarra. NIA has a current Cap of 444m. They also have a gold lease in Ghana. Is the market putting a value of 400m on Windarra?

NIA’s initial target is for 70k tonnes of NI which at today’s price per tonne makes a big figure- JORC is only 2k tonnes but obviously expected to rise significantly.

There is probably some nice neighbourly synergies that could happen – from drill rigs a couple of hundred metres away (MMB have scheduled drilling in the September quarter) through to NIA currently looking at processing plants.

Thoughts?