Early on comparisons were made to voisey bay. Even now, people continue to make such comparisons. My understanding is that voisey bay was taken out by INCO at such time that there were 32 million tons of about 2% nickel....while nickel was trading at about $3/lb.....and the buyout was for about $3 Billion. It is my understanding that the additional 70 million or so tons was discovered afterwards and is of lower grade.

We now sit at about 11 million tons of about 2% nickel....with copper and PGE's....current drilling will certainly expand that....no doubt. Furthermore, that doesn't include the nickel at eagle two and that which is yet to be proven up at AT-12; nor does that include the chomite, the vanadium and titanium....and let's not forget about the JJJ gold.

So what is that all worth? That is the question.

Keep this in mind as well. Although voisey bay was taken out for about $3 billion from INCO; INCO in return was taken out by VALE....and for quite a premium as well. Therefore, we could probably conclude that VALE attached a much higher price to voisey bay than the original $3 billion....something perhaps in the neighbourhood of $5-$6 Billion.....at at a time when nickel was trading for a lower price than even now.

My conclusion.....$10 is not out of the question....even that would put us at less than $2 billion.

Now, I certainly understand the situation with respect to infrastructure and environmental issues....issues with respect to the natives....ect....but, as pointed out voisey bay had the same issues as well....and...these will be sorted out in due time....

Just my optimistic point of view...do your own DD