Ann: Japanese Consortium Update on Progress on KNP Goongarrie Hub, page-11

Hi DDTRH
Mate I agree with you principally on most points.
I don't think anyone including myself is saying bad of Mitsui.
I think that to divide the Goongarrie resources 4 ways is a little too dilutive an offtake for a Japanese giant like Mitsui. For this reason I think they have stepped back from the consortium seeking higher levels of ownership/ control in their entrepreneurial endeavour.

I do believe that the Goongarrie nickel and cobalt resources are primarily going to Japan and thus the giants are being sensible, this is not a squabble for Japan nickel.

I do believe that Indonesia has real problems with resources and thus supply, their laterite is running thin and grade is reducing dramatically,
They have an overcapacity of processing looking forward, you can only mine a metal once.
This is necessitating that ore is being shipped in from the Philippines and now they are looking to mine the smaller Indonesian islands, imagine the unfolding disaster taking place there.
More to the point, the Chinese will deplete mostly everything on offer and just move on. A big lesson in short term greed for Indonesia.

The Japanese Consortium know this and Nickel will become highly valuable in that restrained supply environment, in time for Goongarrie to come live.

My thoughts
RED