POS 11.1% 0.4¢ poseidon nickel limited

In November 2014, the CEO ( I think) of Norilsk visited Lake...

  1. 41 Posts.
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    In November 2014, the CEO ( I think) of Norilsk visited Lake Johnson and distributed a couple of cheques to people who had remained at site, when the operation went into care and maintenance. I remember at least one of them was quite happy with his final pay out. He then transitioned to labour hire, like the rest of us.

    POS bought the whole shooting match for $1m. At that point, twiggy had just bought in and POS had $28m in the bank. Their share price was 13c and I bought a few. It subsequently went to 18c and I briefly thought of getting out. They then returned to 13c.

    The following May, a woman from HR turns up along with the incoming crew. Her mission was to be on hand when the new site manager informed all of us that we had a weeks notice.
    To that point we had been fed the line, underground operations were imminent and the concentrate which we produced from the settling ponds would partly finance the operation. 10 people left site at that time, and I sold those shares at 13c.

    I have been in and out of POS since then.

    Effectively POS has made $14m upon the Lake Johnson sale and actually produced around $1m of Nickel from those ponds.












 
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