I suspect with the number of irons currently in the fire, Salobo particularly, it makes sense to give up 80% of a nickel/cobalt laterite project to go through the whole evaluation process with no outlay of capital with a partner that is happy to pony up the $ to do so.
If Itty ends up with a resource double where it is (which given the capex for a "typical" laterite project, the current resource is probably sub-economic) then 20% of that may end up being quite nice thank you very much. If its bigger than that, even better.
20% of "something" tends to be better than 100% of "nothing". Itty was probably closer to "nothing" without significant capital to move it forward.
IMHO, YMMV, not advise, etc, etc.
I suspect with the number of irons currently in the fire, Salobo...
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