inco presentation, page-5

Phillip,
I agree with you except for the available tradeable stock. I estimate that it is closer to just 20% now.
If and when BHP decides to off load (and one would doubt that in the short term) then there is always going to be some doubts in investors minds until such time as the signing off is announced.

I also believe that Heron has more in it than meets the eye of the average investor. Why else have we had BHP in pursuit knowing full well that Inco and Heron were in advanced discussions.
As I have mentioned in posts before, BHP had its opportunity to do a deal with Heron but it is fairly obvious that BHP thought Heron was bluffing that other very interested coy's existed.

You can be certain that the $12 + million that Heron now has stashed in the bank (thanks to Inco) is currently already being put to good use in sulphide exploration.

Sally