I believe at this point that the 10% valuation is still the right number. However, once we cross the threshold that makes a mine viable, not only with our property but surrounding area, than, this valuation needs to increase.

My biggest issue with this valuation model is it does not properly assess the blue sky in our case. What is the probability of us finding more nickel? If you followed the Salami analogy by Prof Naldrett, who correctly predicted that the VB ovoid had more minerals in the surrounding area based on the high concentrations of Nickel in the ovoid, then you would think like me that the probability of finding more nickel in our case was quite high. The risk vs reward ratio here is very positive. Hence, the blue sky is seriously undervalued.

Glorieux