BSX Day to Day SP discussion, page-126

To me, that interview just reaffirms my own theories. It was made evident that the PFS is still a floater on delivery, and why not as you want to get as much resources into the updated MRE as possible and kick off mining using the most suitable initial deposit. The JV is only a discussion until an agreement is made slated for post PFS and although Ecopro will need more supply than Blackstone can (at this stage) produce, Scott’s looking for other partners?.

So, as Matt said the geologist view would be to “drill it out and have a big boy take you out”, Scott said he is aiming for commercial production by 2023...but no commitments exist, or will do, until post PFS (i.e. mid next 2021). This is where it will start to get interesting IMO as it’s all up in the air at this stage, except for the huge deposit of green nickel unfolding smack bang in the middle of it all.

So why are we trading at this market cap - the answer to me lies in comparing Estrella (ASX:ESR) with Blackstone. Have a look at m/cap, cash on hand, infrastructure, stage of resources, milestones etc - same market cap allowing for cash-on-hand. Why, takeover possibility and that is all it is. LEG has been a long term reminder of this. Ecopro have been mixed in with all discussions/presentations/goals at Blackstone but in reality nothing exists except a ~13% shareholding and a board seat.

IMO someone is holding the share price (very cleverly) back knowing this but their intentions are yet to be unveiled. It’s definitely being pegged back to hold under 40c, I guess they know if it goes over it will go up. At the moment we have absolutely no ‘takeover’ portion built into our share price, well to go further we aren’t even at fair valuation given the parameters.

All things being equal, the only way is up. I still think their is a twist coming, if not then slow and steady it will be which suits me fine.

Thanks for posting @bobbydazzler85