Simply a sign of the times as we will likey see either more M&A or simply consolidation in the industry in these tough times. The equals usually band together as there is strength in combining shared synergies. The equals usually bring some attractive items as well

"Ursa's main asset is the Shakespeare nickel project in the Sudbury area, a fully permitted open-pit nickel-copper sulphide deposit containing over 86 million pounds of nickel.

Canadian Arrow's main asset is the Kenbridge nickel-copper sulphide deposit, 70 km southeast of Kenora, Ont., containing over 98 million pounds of nickel."

Together these guys will try a shot at becoming a successful mid tier Nickel producer. Probably as a team the two now become much more viable and can possibly consolidate many aspects of the shared operations. That's helpful for cutting costs and being able to move when times are better.

The majors didn't become majors doing nothing. IMHO

cheers