Interesting news indeed. I said once before that ISM acts more like a merchant bank than an explorco. Now with this stake in Ursa Major I guess it means that ISM becomes an indirect producer of nickel.

By releasing its ownership of more than 10% I guess this will now allow ISM to purchase a further 10%, up to 20 before they have to notify the exchange again.

Since the TSX killed the Metal Mine spin off of Langmuir, could we then see Langmuir spun into Ursa Major. Hence giving ISM a controlling stake in it?

Note that Ursa has some nickel projects in the Shinning Tree area of Ontario. I believe the good friends at Liberty also own claims in the same vicinity. Oh the two interwine.