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$3.86 western areas limited

That’s it then. You have finally spiralled out of control. I...

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McQuade

1,383 Posts.

488

06/01/22

21:02

Post #: 58691324
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Originally posted by tomboy: ↑

Yes virginia, I did check,
we all know its a 50-50 split currently for WSA offtake to BHP-Jinchuan.
I also see Trafigura is a front that cover onsells & ships to Jinchuan in China.

BHP has a monopoly alright, they are the BIG BOY in Australian Nickel.
They controal ALL smetling & refining of Ni in Australia and ALL tolling of nonproducer concentrate in Australia.

WSA has a small mill which it uses to concentrate its ore to that 14%-16% standard for Jinchuan yet some goes to BHP Kambalda for concentration also & the 50% goes almost all to BHP kambalda also. meaning some of the Jinchuan ore is tolled by BHP also.

BHP controls WSA already via its ore tolling and offtake revenues.
You just dont understand the nature & level of their "control" hence your misunderstanding of BHPs monopoly, control of tolling & refining and their strategies.

BHP effectively control most of WSA MCR revenues and half of IGO revenues
BHP effectively controls the offtake from the cosmos deposit of WSA due to its mt keith mill nextdoor to it, no else can match their location and cost effectivesness not even IGO unless they build a new mill there, but why bother when you can use BHPs Mt keith there? Cosmos is dependent on Mt Keith effectively.

BHP DO NOT control any revenues of PAN POS hence their low valuations comparatively.

With the China trade war coming to Nickel, BHP are sitting even more in control once Jinchuan is removed & cosmos goes all to them.
And if IGO is a cover for BHP long term if BHP takes it over then their monopoly continues.

You dont get the point as you dont invest in non BHP controlled or dependent entities.

You insults & strategy simply & sadly confirms & continues BHPs monopolisation of Australia Nickel.

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That’s it then. You have finally spiralled out of control.
I tried tomboy, I really did, but it’s a bit ridiculous now…I can’t continue.
over and out.

WSA Price at posting: $3.45 Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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