Chart - MCR, page-634

Try something closer to A$400 mm revenue pa (based on spot nickel), but whatever it actually turns out to be it will be exactly that amount more revenue than the grossly overvalued, going nowhere POS.

And let’s face it, under just about any plausible scenario MCR will have both cashflow and profit at least twice that of PAN (hence the higher EV the market is prepared to pay, which you just can’t understand) and at much lower risk.

As for “exorbitant” terms, well MCR gets more than ten % points better than when you bought it (and sold it with a big haircut), and quite a bit better than PAN gets. As for what terms POS would get, well let’s see it get a saleable product before discussing penalties, and then see if it can raise the capital.

Fact is, despite your repeated splutterings, MCR produces a premium product that BHP just loves and pays accordingly for.

How were the $1 shoulders you were so insistent on? Can you ever be right on anything that you are consistent on (rather than just occasionally randomly right)?

MCR making money now. You still ranting and backing losers.

PS Changing my sentiment back to hold from buy. I think we are about fair value for now - lets not get ahead of the coming exploration success.

EL