Consolidation of Nickel Producers Begin, page-184

Since AFAFs disastrous overpriced takeover of MCR which has seen AFAF cowtow to his arch enemy BHP & pay them massive expenses for transport and tolling all MCR ore, Im hearing their production is nowhere near expected and costs blowing out and still losing money on production.

AFAF is bringing in his cost cutting tactics as in FMG and even FMG staff to slash costs which is peeving locals and tradies. And his talk of producing there for 50 years shows he is looking at having his own mill and cutting out BHP at some point but with loss production he is not generating profit to fund any mill so he will have to use FMG divvys to build this likely costing another $300M and 4 years like it took SIR Nova now part of IGO.

Overall a total waste of cash and money and his exwife must be laughing yet again at this cashburning folly. He hasnt learnt a damn thing from his ANL failure.

PAN production 5500tpa and POS initial production of 7500tpa as in its BFS (being only 20% of capacity) way way exceeds that of MCR production currently.

Dont be surprised if AFAF or IGO make a bid for POS to seek to complete their oligopoly control over the Oz Ni industry.
Problem is that 80% of holders have a VWAP of ~11.0 and 5.0.
Any bid below 6.0c is unlikely to succeed as we already saw with BMM in 2018.
DLF wont be there to "consider all offers" after his failure as POS Chairman & excusism for delays, directors & shareholder selldowns.

Till then it will be business as usual with more promises, more presos, more salaries for no production, more prep, more Li talk, more drilling for nothing much more and more annual CR ad infinitum.

If BHP lapdog MCR was worth $760M with NO MILL AT ALL & only 20% of POS JORC resources then POS should be also imho yet its 8% of that on market now.

Only a matter of time before the big boys move on lowly POS imho.