Well said.
The lols never end! ‘Aquisition’ with only a couple million up their sleeve? Of what? Another used up and long abandoned tenement like Sconi?
People thinking this has any chance when there are far larger resources in the pipeline? I guess there truly is one born every minute.
Talk of putting in more money if there’s a ‘compelling story’? I can only shake my head.
With nickel pricing for this and next year I see it as a game of size. Those that don’t have 1 million plus tonnes at a grade of around 1% up their sleeve, a healthy bank account ( around 10 million or more ), are most likely just dreaming. Especially those without prudent management, which I’d say AUZ has pretty much the complete opposite.
The IRA isn’t a magic wand that’s going to sprinkle pixey dust on every single nickel/cobalt etc project in the Western hemisphere. It’s the same as it always has been- size & longevity.
Note- the first on the list has an updated reserve and resource, which means it is even larger now. Updated this year. Of course the relevance being to give readers something to compare Sconi against and to show just how many millions of tonnes are out there.
I’d say Sconi won’t be needed for decades, if ever. Flemington and Thack would probably be best used if sold to other companies that border them.
Sconi’s BFS is now 5 years old and therefore I believe needs to be redone. Talking about an aquisition tells me that won’t happen. I believe they’re going on a rainbow chasing expedition to provide the ‘compelling story’ that they’ve sold… so many times and in so many ways before. Perhaps it’s time for another London Presentation? The inaccuracies used in that sold well. For those who buy stories, at least.
Some of us sold around then after realising that is all they really had- stories ( ones that didn’t even add up at the time! ). Those who didn’t are now living with the consequences, which probably equates to living poorer lives.
Live? That’s a given.
Learn? That means at least in part changing our behaviour/actions based on what we’ve lived through.
I wouldn’t put a penny in this company, no matter the story they come up with. Based on the same logic that has proven correct over the last 7 years playing around with the juniors after a couple decades of earning a living with the majors.
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