EV +$1.00 share in 15 months

Conceptual EV for Black Swan at 50 cent per share in 15 months. Near term upside focused on 2 drill rigs converting current RESERVE from 28,300t Ni to 200,000t Ni over next 2 years. from multiple targets around Black Swan, Silver Swan and Golden Swan. Forecast production process rate of 1.1 MTPA of nickel ore to produce 20,000 tpa of nickel in high grade concentrates

UPSIDE potential for additional 1 MTPA process rate from Mt Windarra AND local small / stranded Ni deposits (takeover targets)

Lake Johnson 1.5MTPA (replacement cost $150M upgrade $25M???) to process 52,000t of NI grading 1.5%, currently sufficient to support 3.5 years of production PLUS 14 high grade targets including Abi Rose discovery.
Coming on stream at 1.0MTPA adds 15,000 annualized tonnes of additional nickel production which sends EV to around $1.00 per share.

JV on gold interests adds about $3.0M to kitty (sale of 50% interest) for further drilling upgrades at L.J and Mount Windarra. That increases monthly conceptual valuation over 15 months from 2.66 cents to 5.32 cents. Most undervalued stock on ASX . Please do your own DD. Good luck to all longs.