Climb Monkey Climb, page-77

PAN just shipped their first production haul for Trafigura to Jinchuan China 680T ni conc 16%, $20M cash
EBITDA $55Mpa PER 10.0 currently
PAN just hit a $550M MC & a bi-annual SP high

WSA PER is 39.00

if POS is producing double PAN at 8500Tpa say 16ktpa, it values POS at $1,100M MC
ie 36c ps

POS can outproduce PAN MCR WSA combined at 53ktpa (maths posted before)
combined MC of these 3 are $2530M ie 84c ps equivalent
not far off my calcs of 93c ps.

Get producing like PAN MCR WSA and watch the SP rocket imho.
Market starting to value POS as a near term producer finally, derr!