Expected Upcoming Capital Raising by POS, page-103

Please read page 3 of ASX announcement. Please
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After a detailed review of the non-sulphide nickel and sulphur to nickel (S:Ni) ratio in the most recent Disseminated Mineral Resource Block Model (updated in June 2023), the technical team has determined that the samples utilised for the Black Swan BFS testwork program had a lower non-sulphide nickel content and a higher S:Ni ratio"
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May be the they forgot to carry calculators to calculate the ratio of Non-NiS to NiS needed for metallurgical study. How the hell on earth they can get such a simple thing wrong. These guys are on 250,000 plus salary. These is beyond belief.
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Bit further on same page
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Three distinct ore zones have been identified by the metallurgical team after reviewing the updated Mineral Resource Block Model (i.e., Main zone, Footwall zone and Hangingwall zone). These three ore zones will be sampled and tested separately, to optimise nickel recoveries. Planning of the diamond drilling program to be conducted from the bottom of the open pit is well underway with a drill rig scheduled to be on site during August 2023. This testwork program (drilling and metallurgical) will take approximately four months to complete"
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1) Drill Rig on site in August
2) Around 1 month for drilling
3) 2 to 3 Months for metallurgical testing
4) That brings to December
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6 months means another 10 to 12 million Capital Raising as early as end of this week followed by another capital raising in January.
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No Offtaker will fund a Metallurgical Study, until unless they buy strategic stake in POS.
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