Ann: Black Swan Restart Project Update, page-96

May I admit (in my humble opinion) that assessing resources is a difficult thing by all accounts. Be careful.

For example, IGO is writing off nearly AUD 1 billion in SH value (IGO) on mistakes on resource grade of nickel. But no one knows for sure.
Ann for them is due on 31 August.

..But a billion dollars....someone and several others really made big mistakes. Umm i don't have any interests in IGO.

This leads me to question POS resources. I'm afraid.

POS is spending tens of millions annually (perhaps more, I don't keep count) on studies to identify and process 'sludge' (SS tailings) and 'low grade BS' ore and 'small units of very high grade GS and SS ore'.

POS also has a 'sludge' pond of gold tailings for sale. There appears to be a local entity with an interest. I guess it needs a lot of cyanide to process. Hard to render gold as I understand. I may be wrong. Good luck with permits and remediation costs and first nation approval.

Can someone please tell me which other company is doing this kind of thing...studies of processing sludge.

I bought shares in this company on the basis of Golden Swan exploration.

But now. But now. But now. POS is saying it has metallurgy issues.

Well I studied mineralogy and materials science once. My guess is that if you don't understand the ore by now, then in future there will likely (imho) be many and frequent shut downs of the mining process to access the 'right ore body'. Such shutdowns, as now will occasion CRs, at least to avoid defaults on debt repayments.

If I was a rich investor, I would consult my legal and accounting advisors...but I have no one.

Therefore, be careful.