Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-47

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ellroy80

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01/02/24

00:11

Post #: 72173726
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Originally posted by tomboy: ↑

zeb has now said basically what ive been saying for months here -
POS CEO & BOD have shown NO URGENCY or PANIC whatsoever, even zeb describes it as "business as usual".

now why would they act like that if the market has panicked downselling from 1.6c in Dec to 0.8c now ie half price?
WHAT do they know as to funding that we do not?
WHY would they keep paying salaries and not slash salaries like CHN has or shutter like PAN IGO/WSA Wyloo/MCR FQM/Ravensthorpe all have ?

Well POS has 3 massive projects already on C&M but the capex is way lower than its peers after 12 years of prep, studies and renovations but POS has HG UG mines way higher grade than these peers and it has 3 massive MILLS built in good condition and it has a massive dewatered open pit with declines to ore body ready to restart almost.

POS has all the advantages at low capex.
POS has NO DEBT NO OFFTAKE terms to meet
All our peers are in offtake breaches and soon mired in litigation with offtakers, suppiiers and shareholders.
POS has had an bottomless pit of funding for the last 13 years and the last 3 CRs have been way oversubscribed at 3.5 5.0 11.0c way way higher than the current 0.8c trading value which i consider to be way oversold and pathetically low to real peer value.

If CHN is worth $430M now so should POS as it has way more built infrastructure at way lower capex unlike its peers. Thats 13 x higher than current POS MC imho. CHN has only more downside.
yet POS is ignored but not for long as its the only Ni sulphide with MILLS game left in Oz.

POS upside is massive & there is no one else left to ramp imho.

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TB, the problem is that the Ni sulphide that POS has in the ground is effectively worthless at the moment, as it can't be economically mined at current Ni prices. Same most likely goes for any Li that they might find. So there's no reason to ramp POS atm.

The gold is our only hope. And water and accommodation, apparently. I don't know how the latter will keep the doors open at the current cash burn rate.

Sorry for the pessimism folks. I'm just calling it as I see it. And yes, I am a current SH.

DYOR etc etc.

POS Price at posting: 0.8¢ Sentiment: None Disclosure: Held
2 Upvote

0 Great analysis

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