Something to consider....fatcharlie imo was onto something.....
In the conference call, I thought I heard Mr. Lee refer to NKL going forward as a "pure platinum play". In addition, and during the conference call, I did not hear any mention of Lynn Lake. Hence:
With NKL's recent stock rise and Victory Nickel's (NI) market cap of $40 m or so, I would not rule out an acquisition of NI by NKL and subsequent spin off of the nickel assets to NKL shareholders where NI becomes Prophecy Nickel and Prophecy Platinum becomes a pure play on Wellgreen.
PCY owns 10% of NI and owns 42.5% of NKL and NI owns approx 4.5% of PCY and at the time of the spin off, qualified for something like 650K shares of NKL (ie: NI has been a seller of PCY shares pre and post the spin off of the metal assets and hard to quantify exact holdings).
NI is advancing a nickel project, mulling a reverse stock split and will no doubt have to turn to the equity markets to raise additional cash and capital. In addition, they are awaiting permitting news.
There are various arrangements to such a scenario and various arguments against the same. Going forward, and provided off-takes on Ulaan Ovoo, PCY is the only one of the three that hosts the immediate potential of both revenue and positive cash flow. Hence, and given equity stakes and cash, a so called "Parent" company that would be in a position to finance both.
To close, just too much of a relationship between PCY, NKL and NI to ignore. If so, NKL would arrive at an equity position in NI much like PCY arrived in an equity position NKL. Like PCY being in a better position to finance its operations via shares held in NKL. The same could be said of NKL in regards to Wellgreen via the shares it would hold in NI. As for PCY, an enhanced share position in NI as it would participate in any spin off as a NKL shareholder.