Black Swan Production Restart, page-8

So you take the words literally and dont looks at their actions or follow the money.

So why do they need $30M cash at bank with NO DEBT if the quarterly drilling budget is only $3.2M pQ as stated in the Q4 budget?
of which they had enough funds until 30 March, why do a $25M CR now?
why issue a budget for undefined "$3.2M for support services at BS.." to 30 Sept ie ending in 6 weeks?

Thats 10 quarters or 2.5 years worth of drilling at the current elevated levels or a new DD every 3 months equivalent.
And the support services budget is now the same as the 3 monthly drilling budget!

We have 18 assays still on the way
the last batch were world class & doubled the resource estimate of the prior ones
GS is around 40KT on my estimates at 5.5% average grade
thats better than EA of 4.1% & prior SS average of 5.1% but well  below the smaller 16KT SS deeps current JORC at 9.1% high grade.

Still this is a massive discovery way bigger and higer grade than first Nova/IGO of 2.3% grade (now 2.0% and way bigger 208kT) & Cassini of 33KT of 3.3% grade (MCR MC now $550M)

Compare this to IGO Nova with MCap of $7,500M v POS $330M) -

https://www.igo.com.au/site/PDF/e9a...035/CY20MineralResourceandOreReserveStatement

"IGO’s total attributable Mineral Resources from Nova and Tropicana1 ,
contained combined estimated metal contents of 208kt nickel (Ni), 84kt copper (Cu), 7kt cobalt (Co), and 2.3Moz gold (Au) metal, inclusive of the Ore Reserve estimates.
• IGO’s total attributable Ore Reserves contained estimated metal content of 163kt Ni, 69kt Cu, 6kt Co and 0.81Moz Au.
• Nova’s Ore Reserves decreased by 14kt of nickel metal in CY20 with 33kt of nickel mined offset by a 20kt increases due to an update of resource dilution and recovery factors (+17kt) and optimisation of mine design (+3kt).
• Mine life at the Nova Operation is 6.5 years based on the current life of mine plan."

Poseidon has double the NI JORC of IGO and triple the processing plant capacity yet is only 10% of the Ni related MCap!
43% x 7500M = 3.3B v 0.33B

read between the lines.