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Ann: PFS confirms Wingellina as a Tier 1 Nickel-Cobalt Project, page-34

  1. 9,773 Posts.
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    The only two in Australia are -
    Murrin murrin now owned by Glencore, cost $3B to build inc HPAL plant, was run by AF as CEO called ANL in late 90s and went into liquidation, sold to creditor for $100M burning all others.
    and
    QNI run by Palmer now bought recently for $2B by swiss but everything built inc HPAL plant costing $4B and large workforce, also went into liquidation and FEDs were chasing him and his nephew.

    Both were mocked by BHP, media and banks.
    Both went into liquidation owing $Bs
    Both had a super rich major holder who have political ambitions & dodgy histories.

    So I ask, what yankee junk bond holders or any Billionaire would want to do this all over again?
    This is why NP will rocket, as its capex and debt intensive & highly pollutive taking a long time,
    a cashburn of $3B using massive debt load taking 5 years to build is NUTS.

    And what Ni investors in Australia excluding the 60,000 who were burnt in ANL QNI AGO will trust junk bondholders or laterite/HPAL plants or AF or Palmer ever again?

    If it were in Indonesia, then for sure as wages are 20 times lower and currency 50 times lower but china controls all Ni there. But this is in expensive stranded Ozland where banks say no and yankee junkbond holders try to screw you like they did ANL QNI.

    Wheres the pump, is that it?!
 
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