I agree miskealp. I was talking about it today with some folks, and thought the strategy was well thought out.

FWR probably had a fairly good idea they would hit chromite, drilling where they did, and of course we know they hit 100 m's of the stuff.

FWR wants to hit Ni-Cu, I believe that is their primary goal. It also happens to be what the market wants as well.

The advantage to doing it the way they did is this: they hit on their first hole, with it being the "consolation" prize of chromite, since the market doesn't currently place a lot of value on it. But, since they DID hit, they also don't get punished the way FNC did.

As well, now that they know where the chromite is without a doubt, they can methodically work their way over to where they think the Ni-Cu conduit is. The market will receive the news better when they hit, even if it is not Hole #5 type grades. But once they understand which way it's headed, they can target the hot zones more accurately.

On the flipside, if they had gone for the Ni-Cu zone right off the bat, and hit nothing, or low percentages in a narrow intercept, the SP would have taken a thrashing.

All in all, I like their approach thus far, sneaking up on the deposit with a bunch of base hits instead of trying for the home run. Safer that way.

JMO