MCR chart, page-57

Have to agree with Jordan. Although the same commodity is at play, POS and MCR are worlds apart. Good luck waiting to see if someone is bold enough to take over a company like POS. I am not saying it's not possible, someone international player who has no idea of Aussie Ni stocks may throw some dough at it, who knows.

Companies like MCR who are well advanced and have proven large deposits are the ones likely to be taken over or be merged and consolidated such as the near take over / merger of PAN by IGO. There were some disagreements in the end so that merger is unlikely to proceed, but the point is "It's the good projects that gets looked at".

Disclosure: I hold MCR in the spec portfolio as documented in HC.