Took some timeout from looking at or commenting on HC and especially POD recently.
Metallurgy is the most important part of the jigsaw here. ASX investors do not understand PGMs and naturally everyone has concerns about the economics of long, narrow deposits.
Management has said for quite some time (several years!) that they are working on:
- low cost starter mines - open-pit, high grade
- a new way of getting value from the oxide (advice from PGM veterans like Keith Goode is ignore the oxide)
- produce a concentrate that doesn’t require a high cost smelter in the early years
I reckon they will come up with the goods but, until they report on this and then a scoping study, we remain in limbo. Added to this, their approach to communications could be improved. The long term value is clearly there…back to hibernation mode.
https://www.eagleres.com.au/comments/item/jul-2022-understanding-analysing-pges
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