With this CR & PANs move as to offtake $45M cash & early restart due to NP 8.90,
I think FID has been moved forward to end September.
I think the mine plan is now clearly option 3 using BS circuits 1 & 2 & SS GS BS W ore with that ROM pad ore of 1MT to go first through circuit 2.
Option 3 is way faster and cheaper than they thought. 6 months $37M
A capex saving of $240M said DS in 2014 with costs of $4.05 W to BS mill. More like $400M saving now.
That $3.2M budget to 30 Sept for "support services at BS.." is the tell.
What will they spend such a large sum on at BS for support, more than the entire drilling budget, equal to a 450m DD in 2 months, what sort of support does BS need?
It doesnt take Dr Telsa or Mrs Einstein to figure this question out.
A stealth restart in process imho.
If they restart BS mill as in the scoping study option 3, the offtake will be concentrate & ready for sale to ANY offtaker like Trafigura or Jinchuan cutting out BHP & its mills/smelters.
BHP will be forced to find that extra $1Bpa Ni metal for Tesla from elsewhere.
Also the BS mill will move to $240Mpa FCF overnight (double the prior DSO forecasts of $120Mpa)
Market starting slowly to realise that Poseidon is moving very quickly to a "walkup restart" at BS mill using GS SS BS W ore at "HIGH MARGIN production" with "new SP highs" as PH told us already.
330/240 = 1.38 PER
WSA PER = 27.0
PH aint no liar. The maths dont lie.
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