Whaler,
ISM is going no where. The entire Ni 43-101 Micon Resource Report was based on ISM building its own mill. That is not going to happen. Lets be serious for a minute. ISM can't even figure out how to apply for a simple dewatering permit in over 6 years. To this date, ISM has not proved up 1 single pound of economically extractable ni, and at the pace ISM moves, they probably never will.
I think you may even agree now; it certainly looks like ISM would have a very difficult time doing anything with the L-2 due to encroachments on Property boundaries. LBE is in the drivers seat and certainly in no hurry to work out any deal for such low grade mineralization. Once LBE's mill is up and operational, and without any further drilling and exploration, I would have to guess it would be at least 5 years before LBE might consider looking at anything ISM might have to offer. By that time ISM will clearly be out of cash and LBE will more than likely pick up the properties on the cheap.
As I said before, in my opinion, I would have to think the Golden Chalice ( Rogue Resources) properties might be a better fit for LBE. Personally, I dont think there is anyone out there that would consider working with Randy anymore. The guy is just bad news all around!
As for an update on LBE, I would hope we all see some news on its direction later on next week. The AGM is on the 28th and the new guy would have had enough time to look over all the operations. My bet is we will get an indication of where LBE is headed shortly after that meeting. If nothing is noted about ISM, I wouldn't count on anything happening for an awfully long time.
Best
Nickel
