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as your handle suggests you enjoy downing companies you don't...

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Scott th Ratbag

42,408 Posts.

642

01/02/24

11:07

Post #: 72180456
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Originally posted by entropylord: ↑

Looking at the QR it looked like absolutely poor performance of the concentrator and consequent drop in production and rise in unit costs was the bigger factor in the closure decision than the continued fall in the nickel price.

Either a quite sub-mediocre management and/or an aging concentrator with severe problems. The switch to owner operated workforce seems to have been totally botched. As for managing to get oxidation out of hand on the ROM pads. I guess these point to the former.

But then I am no mining person, ask our paid expert ramping futurologist. His latest assertion of cash levels $40mm, reality $27mm at 31 Dec.

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as your handle suggests you enjoy downing companies you don't have an interest in EL..... I get its your style.

PoNi is the obvious problem. same as every other Ni miner thats having deep strife.

PAN Price at posting: 3.5¢ Sentiment: None Disclosure: Held
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