$2 Club, page-739

I hear rumours that POS at 2.3c & PAN at 5.0c is attracting attention by the Nickel oligopoly BHP IGO AFAF and those who want to break them up.

POS & PAN are the last 2 independent producers or near term producers left in Oz.
All the others are junior explorers with NO MILL NO MINES NO ROADS NO TOILETS.
POS has 3 MILLS 6 MINES 3 AIRSTRIPS ROADS & TOILETS with staff camps for 500.

PAN is 34% owned by IGO AFAF Zeta. But a new holder with 25% is coming aboard.
PAN just did a whopping $40M CR at 5.0c a whopping 50% below the prior SP of 10.0cs (25% dilution)
PAN has now secured a stronger balance sheet with its $45M DEBT and stronger production profile for the next 18 months imho

POS did a small CR of $6M at only 23% lower than prior SP (only an 8% dilution)
POS has NO DEBT $11M cash and stumbles along prepping for its restart as it has for 10 years now waiting for a suitor to clean out these top 3 backstabbers.

AFAF appears to be a distracted flying high single guy who has lost his mojo.
His nickel empire dreams lay in tatters but they keep telling him the emperors new clothes are so fabulous.

talk is IGO might go for PAN again & BHP for POS.