MIN

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$50.94 mineral resources limited

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BobbyMorane

921 Posts.

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23/03/24

01:56

Post #: 73022286
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Originally posted by tomboy: ↑

CEs revenge on AF here.
You forgot how AF bent over CE & MINRES over the AGO backstab when he gifted AGO to Gina and not MINRES for a pathetic 4.5c ps now worth 200c ps.
CE got bent over by AF badly on that one, Gina made $20B on AGO since.

CE has been seeking revenge against AF ever since and here it is.
By buying LJ from POS he has bent over AF well and truly more than POS, AF used to chair POS and used to be major holder of POS
AF needed LJ desperately to toll his stranded MCR ore which was feeding the BHP Kambalda MILL at exorbitant rates from BHP. AF crazily bought MCR with NO MILL for $760M cash last year which was a total disaster & closed it recently losing a whopping $700M cash on it.

Yet AF & BMM have been both bent over by CE here too
AF BMM both made a play on LJ also and failed and both sold down their POS holdings and AF left as chairman of POS in 2013 while BMM removed its director DHDH in 2022
So taking the "jewel in the crown" from AF, BMM POS for peanuts is CEs revenge

CE has bought this POS LJ massive MINE & MILL project for a pathetic lowball $15M.
The airstrip and 10 buildings inc mess hall are worth $15M alone.
The MASSIVE MILL is worth $300M over 4 years alone on Nova metrics.
The high grade tenements are worth $300M alone with over $1.6B in situ JORC Ni alone.
The 3 prior producing mines are worth $400M alone with declines to ore bodies.
Then there is the large Li discoveries in 2016
Then there is the WUU belt of 13km of strike recently found even more Li NI there over 13 km.

LJ is a massive project larger than Nova to IGO 90km east
Nova is valued by IGO currently at $4,000M & is producing $570Mpa revenue from Ni alone.
the IGO Nova MILL is the SAME SIZE as this LJ MILL of 1.5MTpa ore processing capacity

So yes virginia, you not only should feel guilty of bending over POS but bending over both AF & BMM

But with innocent POS there WILL BE A PAYBACK imho.
POS now has you guys funding and spending mass capex on LJ and not us and POS has 11 years of running, drilling & planning restarts for LJ.
Without POS, CE would not get his revenge nor would it have a Li hub nor mass production capacity for Li Ni at all.

THANK YOU POS I hear you say?!
All the way to the bank for gifting MINRES a Li hub & mass production facility turnkey on a plate with airstrip, buildings and staff camps.

I expect PAYBACK to POS. POS is OWED BIG TIME imho.

Expand

This isn't a school yard, no one owes anything to anyone in business other than what is written down in binding contracts and agreements.
CE, like any other CEO, has the fiduciary duty to look after MIN shareholders first and foremost within the specter of the australian law.
Thankfully for us, as MIN's founder and major holder, his interests are aligned with ours and it shows compared to how others businesses are run.

I can't stress this enough : there won't be a "hidden payout" later on based on the fact that this is a very good deal for MIN holders.

MIN Price at posting: $69.15 Sentiment: Buy Disclosure: Held
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Last $50.94		Change -0.240(0.47%)		Mkt cap ! $10.01B

Open	High	Low	Value	Volume
$51.18	$52.21	$50.94	$50.13M	973.8K

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