OK, as suspected, we have a whole lot of Nickel, and the price should continue to firm with the equity market supporting.

But whether we vision self development , selling out, or a JV, the infrastructure and capital development funding will require a huge amount of equity from a third party or huge dilutive capital raises. NOT management has a full time job considering its ongoing options in an environment where greenfields developments require advanced stage resources with fairly certain development time frames. We are not there yet, and being impatient is not an effective way to realize maximum value. Nor is self development.

NOT has a long way to go, and there is no point being impatient with management. They are doing their best to maximize the resource, while undoubtedly promoting the values to third parties. Our best hope is for the definition of new resources that add to the economic interest in the company. Anyone who thinks the sp is unduly low should simply buy more.