inco presentation, page-3

Phillip,
Last week Inco addressed its shareholders in Canada/USA? on Inco's past quarter and the future of the company and nickel forecasts.

During the lengthy speech, Inco uttered the word Heron in a one line sentence (towards the end of the speech) to the effect of saying that -- Inco opertates alone or in partnership as can be demonstrated with Heron Resources in Western Australia..... that is and was the first and so far the last time.
Strange??? Yes!! very strange, but then BHP had just shown its hand.

I am positive that both Heron and Inco have their reasons for holding back with the announcement that the formal agreement has been signed off.
Currently, Heron and Inco have a joint venture exploration agreement and as such, I believe that Inco are not obliged to make any announcements to its market. In fact, Inco have said nothing to its own shareholders about this j/v exploration agreement.

I have not a single doubt that the announcement will come very soon but probably when the market least expects it to be announced.
If Heron's price should take a dive, then I am even more convinced than ever to overload.
When the announcement flow (perhaps even in the next Heron quarterly) you can rest assured that they will be outstanding.

Sally