Consolidation of Nickel Producers Begin, page-185

well well well

POS still trading and still in operation with a new CEO even now with a Li angle.

Yet MCR taken over for $760M & Noront for $400M by AFAF
Yet WSA & SIR taken by IGO for $1.1B & $3.1B
Yet OZL taken by BHP
Yet MBN & ANL both liquidated for peanuts and phoenixed to Glencore
Yet PAN now in TH at 3.5c and owing Trafigura $45M with cash of $45M with no news as stopping loss production would put them in loan default with Trafigura.

For POS there is a lesson here -
- PH didnt sign the Trafigura debt deal for $62M, if he had how would POS repay it without production
- Trafigura now looking at taking all of PAN for peanuts using this same offtake debt offered
- POS has NO DEBT & no production
- PAN costs rocketed higher at restart and only came down last few months
- OZL noront WSA all warehoused not producing, IGO stopped Flying fox (WSA) recently
- WSA Cosmos mine still not producing or operation if it ever will
- IGO BHP AFAF burnt through over $15B on these plays yet the only one operating is Nova (SIR)

POS has once again survived and shown those big players are hopeless and useless and burning through $15B cash for no end results (other than one exception Nova/IGO/SIR).

POS has also shown its independent and cant be taken over & despite the money thrown around is actually way better a listed play than all these others long term (other than SIR which did a 100 MBer run).

We were told PAN then POS, wrong again.

PAN went from 7c to 37c to 7c to 3.5c TH and facing loan default
MBN went from 4c to 43c to 4c to liquidation despite profitable production
ANL went from 10c to 450c to 50c to liquidation still producing at MM
MCR went from 30c to $300c to 140c to 105c to 140c taken by AFAF
OZL is a massive black hole in nullabor, BHP burning $1B cash a year on this folly way away from their smelters in WA coast LOL, pathetic.
Soon AFAF closes MCR as he did Noront imho & pulls apart the parts.

POS is trading and alive with NO DEBT & soon the ramp on Li
Count our lucky stars!