There also were 2 offtake offer deeds of 60pages each with...

There also were 2 offtake offer deeds of 60pages each with "significant debt components" also said PH
the offtakers nor the debt deals were NEVER disclosed.

MST Access knew though, they put in $64M debt in their 2025 estimates, forget the prior $20M from AFAF or $25M from Jefferies.

This was scuttled in panic as PAN MCR WSA Noront Wyloo Ravensthorpe all went under, shuttered, sold or closed.
BHP still talks of closing Nickel West but still hasnt as NP has recovered to 8.00 area.
Remember BHP WSA all continued producing in 2015-2019 when NP was way way lower at 3.50-5.50.
Glencore at MM still producing all the way through all this and no word of closing that at all.

These BIG BOYS burnt $13,000M cash last 1-2 years on nothing but stranded high capex black holes.
BHP spent a whopping $11B cash on OZL and then shuttered it LOL
AFAF spent a whopping $1,300M on Noront and MCR all now shuttered & staff sacked.
NUTS

You got it all wrong, its about survival holding onto mass assets and mines till the rebound which is now in process. The others proved they were incapable of holding out but POS did yet again.

What happens when NP hits 15 again, who will & can restart and produce mass revenue at low capex?

POS got NO DEBT, MASS ASSETS & MILLS & dont need the BIG BOYS .
POS is the last man standing.