$2 Club, page-636

"can you outline how the LOM will be increased, and the basis for it?
You talk of JORC being done... can you elaborate?"

Firstly you need to listen to the Padley podcast with the CEO, see the other thread posted 3 times already. Here it is again -

https://www.listennotes.com/podcasts/on-the-couch/on-the-couch-with-peter-cAOVSoxPTy1/

CEO states - Golder will be "releasing any day" now the peer reviewed JORC upgrade of reserves and upgrades from inferred to indicated JORC based on 10km of infill drilling that cost POS 'millions" said the CEO.

What this means is that the BS open pit & BS disseminated under it that was found in 2018 at a massive size bigger than the current open pit JORC will be upgraded and the JORC upgraded.
CEO stated he is "pretty excited" and its a "positive improvement in the resources"

CEO states POS is a "SCREAMING BUY" & he is "super super super BULLISH"
CEO states the smart money & high nets have been buying in & he is " SUPER PUMPED"

Then we have the current JORC of 421KT
of that some 220KT are


https://www.asx.com.au/asxpdf/20221121/pdf/45htfkh1p3ck4f.pdf

BFS 2022 - at page 7 sets out the current BS JORC at 217KT
in this, they set out a mere 30KT over 4 years at 1.0% av grade of this produced Ni.
that leaves a whopping 187KT of JORC in situ excluding the new JORC.

at this pace of 7500Tpa thats 29 year LOM on the current JORC alone however they can use the 2.2mtpa option for the roughie stuff and a HPAL plant which effectively triples the production exactly what Norilsk were doing before.

In 2021 MST Access claimed POS can produce 8ktpa for a 25 year LOM
In 2014/2015 & 2018 the DFSs showed a 13 year LOM at BS SS
now add in the stockpiles plus GS of 6kt on top
Recently the CEO has stated many times a 15ktpa-20ktpa production target for BS.

So the 4 year LOM in the BFS is way below the total JORC just at that mine alone.
But if the infill comes good this may easily increase to 7-14 years then to 25 years


A super volcano didnt spout just 3 veins of Nickel at North Kalgoorlie
In Kambalda it was over 100 veins.
the more they drill the more they find everywhere, just like at Kambalda.
imagine what else is out there all around BS SS GS!

And LOM is irrelevant when you have as bacci explained massive JORC already, a massive open pit with HG hits at SS GS plus hundreds of targets all around it.
the great antonswig on here stated in 2014 that what was under W BS LJ was massive and generational mines & I concur.

I have said for 9 years on here,
this is a 50 year LOM project with over 1MT JORC and a NICKEL SUPER PIT in process imho.
Mark my words.