Yes Mondo, its about 2 thing, firstly likely hood of development...

Yes Mondo, its about 2 thing, firstly likely hood of development as Crackpot always talks about which provides premium value and secondly as you have talked about is exploration upside.

From what we have in this very short amount of time with Nova/Conductor 1 is a solid winner likely with tonnage north of 15m tonnes(if the second half of conductor 1 is like the first half). We also need to remember conductor 1 is open to the north and have limited knowledge of whats below existing drilling. Conductor 1 could easily end up north of 20m tonnes as these nickel deposits have a habit of going to great depths.

I think from memory SFR had a JORC around 11m tonnes obviously with higher grading copper but copper being half the value of Nickel. Whatever SIR's final JORC grade comes in at, pound for pound SIRs value per tonne is going to be up there. I think that we could almost take the lead as far as tonnge is concerned and this isnt taking into consideration conductors 2,3 or 4 which could easily add another 2m - 5m tonnes each if they are mineralisaed.

It simply comes down to exploration upside which SIR obviously has in the bag with 3 more conductors to test and hundreds of square Km's of untested ground.

The next big catalyst with exploration will be conductor 4, the market is now numb with great drilling results from conductor 1 with big wide zones of sulphides being hit on every drill line. If conductor 4 delivers just a 5m zone of massive sulphides it will put a rocket under the price reinforcing the exploration upside for SIR.

Hopefully EM data for conductor 4 on monday and possibly a drill rig already 100m into the first hole.

The next step out hole on the 900 hole should also be home and hosed.