POS 0.00% 0.4¢ poseidon nickel limited

Driving into a wall, at speed, page-4

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    It looks like a head count reduction is now underway at Ord Street.
    A periodic check of the POS Management web page this afternoon (https://poseidon-nickel.com.au/about/management-team) revealed that David Maxton, Project Director (Metallurgist by profession), is now absent from the (key) management team list. According to the most recent annual report his FY 2023 cash cost (i.e. base salary + bonus + super) was in the order of ~$435k p.a.
    Not sure when he left, but I'm thinking it was very recently. (I didn't make a note of the last time I checked, but I think it was 2-3 weeks ago and he was still showing on the list at that time.)
    I've met David a couple of times and on each occasion I found him to be a very straight talker. There's a real human cost to this rout. I hope he finds a soft landing somewhere else very soon, if not already.

    Last edited by zebster: 06/03/24
 
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