Re: BML: Right Place Right Partner, page-3

One excerpt - more than PV has told us!

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Each phase of the project study (Conceptual, Pre-Feasibility and Feasibility) should incrementally and realistically add value to the projectand so secure potential for return on investment. The Maibele North prospect is located 50 km north of the Selebi-Phikwe nickel and coppermine and smelter owned by BCL. Exploration in 2010 confirmed nickel,copper and platinum group metals mineralisation and additional drillingin 2014 yielded additional finds. Advisian was appointed to undertake a PFS to evaluate results from the previous study that recommended an underground mine based on traditional economic modelling.
Using the StepWise approach, twelve underground miningconfigurations were evaluated against open pit mining configurations. These initial StepWise results helped focus drilling activities into areas ofhigher mining interest and when the revised geological model was completed, only the more viable options were re-evaluated. Advisianconcluded that none of the underground options identified were financially robust enough to justify underground mining at Maibele; however, an open pit was proposed as having potential advantages."