AGM news is a reality check to me; (1) For every dollar available to invest into mining, PNR would seem to get more back from that dollar at Norseman than at Halls Creek. Because Norseman has the goal of 50% production increase and the sooner we see that benefit, the better we shall be. (2) the "scarce skilled personnel" disclosed at Norseman means the same thing....so shift them down from HC to Norseman too. (3) Any new strategy at Halls Creek depends on the hope in Lamboo PGE/nickel and thats quite some time away. All the data about diesel costs prepares us that Lamboo DFS will need to cover installation of renewables. Cos spending diesel dollars on transporting diesel will swallow NPV up at Halls Creek....My guess would be that this project would be far risker to advance anytime before the best cashflow of Norseman is available... (4) Disclosed news on production & cost numbers at Norseman is still sketchy..... I reckon the market will factor in the emotion of Hall's Creek moving into C&M, despite it actually being a good thing!
PNR Price at posting:
12.8¢ Sentiment: Hold Disclosure: Held
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