To celebrate a new record share price this morning, I thought I would reflect on one of our old postings from one of our more enthusiastic copperites Moondong of 25 June last year.
The share price was at $2.58 at the time and to be fair the comments should be seen in their historical context and their clear investigative intent.
I hope that Moondong took my advice and kept his shareholding.
Regards Eos
Lies, all lies.
The acid plant has to be shut down every couple of days to patch up leaks.
There have been acid spills and atmospheric discharges of SO2 and SO3.
They are importing acid in road trains because they can't make enough on site and the cost to produce each pound of nickel is more than twice that of Nickel West assets.
They can't keep going like this, the plant is a hour by hour proposition.
And the new heap leach pads won't help much either as they don't have enough acid now, this process needs even more acid to leach out the metal.
To top it all off, they are running out of water and are now starting a borefield over 100km away that has to pump supplies all that way.
Used to own this stock and it has been kind in divvies but the current strength was the perfect time to unload.
All in my opinion - do you own research but I back everything stated above as true.
MRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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