Hi Chaps and Chapettes,Like POS, I feel I am marking time before...

Hi Chaps and Chapettes,

Like POS, I feel I am marking time before we see some strong forward momentum. By that, I am referring specifically to our share price.

My sentiment remains strongly positive and, frankly, quite relaxed. I understand, as was restated in yesterday's announcement, that in fact the company's efforts are being appropriately focussed on restarting mining operations. That makes me feel very comfortable - our substantial rerate will only happen when the market decides the restart is underway and we are close to shipping some dirt from our mine sites.

In that regard, I see all the macro elements falling into place. I think the sp of POS is now better aligned with the nickel price (it was not always the case for those of you who are LTH's). Nickel supply and demand are also aligned with a classical economic case for continued upward pressure on the price of nickel. The nickel price itself is establishing a new floor of at least $9/lb USD and we have a compelling and conservative business model indicating high profitability from around $8/lb USD.

We are in a great place to raise more funds, preferably via credit IMO, as required to move us into production. Management, yes, that is not a typo, no, I did not mean mismanagement (BTW, I have several degrees in this particular discipline. In fact, I should probably be called Professor, based on decades of applied mismanagement. Look, I will settle for being called Doctor U), has clearly outlined their intent and actions towards a restart. Halabloodyulah!!!! This is the best position we have been in for a decade.

We have a drilling program in place and good prospects of more resources being found. Ideally, I would like to see more drilling in LJ (Maggie Hays, Abi Rose etc) to see if we can discover additional medium - high grade ore to feed into our mills, on site or at Black Swan. In summary, I don't want to steal TB's thunder, but he is right IMO, this stock remains seriously undervalued. Remember, going back a bit in time, Padley nominated POS as the right stock to choose if you took the strategy of loading up on a single stock to make money. I do have other stocks - but that reflects my belief.

I know stuff all about the practicalities of mining but there are plenty of posters here who are very knowledgeable and there is heaps of useful information to be gleaned, especially at the micro level. The point is; the AGM is coming up and I think we should continue asking questions and if they are sensible but not answered to your satisfaction, take action - call management. Failing that, send them here and people like me are absolutely prepared to raise them directly with the Board at the AGM. I have done that before and I am prepared to do it again (as long as there is the prospect of some decent bikkies and tea being provided).

Anyway, DYOR but for me, stay the course and we will be rewarded.

Cheers
U