Ann: Annual Financial Report - 30 June 2022, page-58

What a load of croc.
POS survived for a decade on $2M cash at bank & AFs pocketbook as and when needed & CN $30M debt from Jeffries Bank.
They now have $10M cash and NO DEBT in a better financial position than before with more JORC and better prepared assets/mines.

They have invested in the restart, drill drives and the mines are readied to produce & the mills can be ready for production on low capex.
They have 417kt JORC resources plus 3.7MTpa mill capacity in very good condition.
They have DFS & offtake being finalised for 2 years now plus a refinery deal with PBT which needs to sign with POS like yesterday.

Seems to me that PBT will be the offtaker not Trafigura or BHP hence why AF AF sold off as he once again got the flick from the Ni industry like he did in WSA Ravensthorpe ANL and his last chance with POS is also over due to his own behaviour and decisions.

POS is sitting on a plate.
Management have stalled far too long & been paid way too much.
They have the DFS FID & offtake deals ready to go for so long now so they have been waiting for the NP and the offtakers and prep work & PBT to proceed with their plans.

If they are waiting for PBT then this will be a big deal impending and then the suitor Ni war will start over POS as I cannot see IGO or BHP allowing a 3rd Force in Ni to take them on in Oz.

Its a takeover target dirt cheap for sure imho.