CJ hits the first runs out of the park at the WA Nickel...

CJ hits the first runs out of the park at the WA Nickel conference

Pivots to "strategically important Nickel assets" & the 422KT JORC & MILL capacity & highlights the recent Ni consolidation and location of BHP IGO assets in his map.
Clearly seeking large top 1 holder to oust AFAF BMM Citi once and for all.

Also his cost estimates have gone up due to payability ratios at 77% from uslb$4.90/4.30 to $5.90/7.50
Breakeven of uslb$7.50 now
now we know why PH backed out as NP went from 11 to 8, the margin was squeezed.
he also has included that 14% grade & 8KT JORC upgrade at BS open pit

So clearly CJ is waiting on the NP to go back to 10-12
Yet 2015-2019 we were told 6-7 was the restart target now it appears to have been moved to 10-12

Did you know Muccilli was CEO of MCR & Maxton was with RIO with PH former CEO of PAN.
Experienced impressive team alright.

"POSEIDON HAS 422kt OF NICKEL
BLACK SWAN NICKEL PROJECT
• Resources of 222kt Ni1
• 2.2Mtpa mill
• BFS released in Nov 2022
• Offtake and debt well advanced
• Multiple exploration targets
LAKE JOHNSTON NICKEL PROJECT
• Resources of 52kt Ni (14kt EA nonJORC also)
• 1.5Mtpa mill
• Exciting exploration targets along Western Ultramafic (add in EA AR also)

Recent consolidation in the WA nickel industry highlights the demand for nickel assets..

Breakeven Costs on 100% payability basis per BFS US$5.90/lb
• Breakeven Costs on a payable basis circa US$7.50/lb5 assuming indicative Ni payabilities used in the BFS in the high 70’s% ..

Resource of 26.3Mt at 0.72% nickel (previously 0.63%) for 189kt Ni
• Compared to the 2022 Resource:
• 48% increase in nickel in Measured and Indicated
• 14% increase in the average nickel grade and 8,000t increase in nickel
• Increased understanding of the distribution of serpentinite and talccarbonate "