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0.3¢ poseidon nickel limited

Ann: Letter to Shareholders - Annual General Meeting, page-33

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Lama3

140 Posts.

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15/11/22

19:35

Post #: 64790714
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Originally posted by tomboy: ↑

@Pos2021
on my A+ UWA maths 110 skills its this -

say 1.0% grade from BS open pit (2% way too high based on the JORC)
say 2.2MTpa mill throughput
say 95% recoveries (high due to surface mining)
say 90% payability due to demand
say 16% conc delivered to Trafigura/Jinchuan or BHP smelter in Kalg
say 18,800 Tpa Ni metal
at current NP at 12.80 of aud$43,500

thats revenue of aud$818Mpa
thats at PAN rate of 50% margin for ebitda = $409Mpa EBITDA
capex is low, costs are low due to 85% DIDO workforce & 36% lower AUD to USD$ than 2014/15 DFSs
thats a current PER of 134/409 = 0.33 ie laughable
NB WSA PER was 39.0, MCR PER is 12.0 PRU PER is 24.3
Not 0.33 !!!

on my maths even the low grade open pit at 1.0% is a massive money spinner

We see in Sherritts operation in frozen isolated Canada its grade is a pathetic 0.2% laterrite using HPAL plants like Murrin Murrin here or Indo yet its SP has gone from 2c to 46c a whopping 2300% rise and its revenues have rocketed with the NP rise from 6 to 11-14.
Even Sherritt is making a motza & their costs are WAY HIGHER than POS as the transport costs are massive, wages way higher in USD$ and the grades way lower and capex way higher for such a larger mill and mass HPAL plant.

POS in comparison has -
- 350%+ higher grades than Sherritt,
- 50% less expense, way lower wages in USD$
- 4 x UG HG mines with 4%-12% grades WOW,
- way lower capex as its already built and no need for a HPAL plant
- a currency 40% lower
- yet still not producing!
WTH?

Ive been saying for years on here, ITS A NO BRAINER!

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love your work TB

POS Price at posting: 4.3¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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