BHP buys noront resources, page-72

a nice $180M payday of he takes BHPs offer from a lowly $60M input, thats a 330% & $120M gain in 6 months. Thats more like it.

I think AF will flip it now, he knows full well the time, junk bond debt and massive capex cost of another stranded ANL type low grade like this.

Take the money & RUN AF!
$180,000,000.00.
AF can do a lot with that in POS.

backhander once again from the media-
"For much of the past decade, Mr Forrest has retained a low-key interest in nickel through stalled ASX listed miner Poseidon, which hopes its WA nickel assets will be more viable if the ore can be processed into higher-margin products at a battery material refinery that is proposed for Kalgoorlie"

Nothing bullish about that, sounds more desperation and resources & assets are unworthy low grade,
the same old industry criticism of POS for a decade now just like they criticised FMG ANL then kabooom.

BHP can only add production from other mines this way imho -

- takeover IGO for $10B, 33ktpa
- takeover WSA for $1.6B add 13ktpa maybe 20ktpa, $400M capex needed, add cosmos low grade to mt keith milling, push IGO bid aside & join the data room a month late
- convince WSA to dump Jinchuan for BHP 50% offtake in 3 years time
- convince IGO to dump Trafigura 50% offtake for BHP in 2 years time
- takeover POS for $600M, adding 55ktpa plus 3 mills & EV refinery planning & $2B built infrastructure
-spend $1.5B on new mines and JV taking 3-4 years building & drilling to get maybe 25ktpa

POS or IGO/WSA only t/o game in town imho.
Hmmmm $0.6B v $2B v $10B, hard choice really.

I dont think BHP will win POS at any price though,
but if they bid for POS they might win some POS offtake, dump BMM, win Noront & get AF off their backs & into JV discussions. Win Win Win.

A move before 9 November?
AGM 23 November.

BHP making $83Bpa revenues & FMG only a third of that at $25Bpa.
Would be good timing while its still dirt cheap.