POS - PBT Deal Still Alive, page-80

The immediate cashflow is massive.
the margins are 103% on just 12% of JORC at a mere 7500Tpa some 37-50% below the CEOs targets of 15k-20ktpa production.

DS RD the prior CEOs had stated they needed 7.00 to restart BS

In 2018 RD did a DFS on SS to BS for 3 years with AISC at 5.10
In the 2022 BFS these costs were dropped to 4.60 with NP at 11.00
NP is now 10.80 more than double the breakeven point from 2014-2022 and we now have the FTM BFS with compelling financial results.

This was the 2022 BFS results -
"Phase 1 BFS, 1.1mtpa: Snapshot of ~4-Year Project
The Black Swan BFS plans a 4-year project with high quality concentrate and low upfront capex and. Some key project attributes:
• high-grade high-quality concentrate grading 15% Ni
• processing a total of 5mt of feed (1.1mtpa)
• total concentrate production of ~200kt, 30kt of Ni contained
• ore reserves of 3.5mt Ni @1% for ~35kt of Ni (total resource 31.5mt @ 0.68% for 214.2kt Ni)
(NOTE- this represents a mere 16% on their figures of total BS JORC resources but only 12% on mine)
• pre-production capex A$50m, (prior capex W to BS was 13M)
• operating costs of A$4.60/lb". (prior OC W to BS were 4.05)

If you add in 15ktpa production and higher grades from GS SS plus tailings 13kt already mined and sitting on ROM pad for last 10 years not needing any mining just milling & dozing to the circuit  then the profits and margins are WAY higher.

Market expects nothing & no offtake for another decade to come
PBT has been a distraction long term.

START HER UP & MAKE IMMEDIATE CASHFLOW