What you also have to take into account is the PNR's gold...

What you also have to take into account is the PNR's gold holdings in PNG. Nicholson gold money will help develop the PNG gold mines and that could be anything.

I think its a great deal for BNR shareholders - directors actually doing something for the shareholders.

With 100% of Nicholson now PNR will probably go to 15c. Having 2 owners depreciates the value.

And they are talking about 750,000 to 1m ozs of gold potential at Nicholson.

Only up side given the overcall on mining to date.