RED is a high frequency swing trader (he proudly has stated that himself on several occasions how he has made fortune by trading POS and send his kids to elite private school). His commentary will change as per his position that day. It is common among high frequency traders (specially from WA) claiming they know director personally and have met them. I have faced that firsthand when I was PEN shareholder. I flew all the way to Brisbane to meet EDE director once and realised .........
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Back to POS
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1) FID is clearly NO at this stage.
2) No single slide or statement from today announcement talks about Plant Equipment or Mine Refurbishment all this means project is delayed as long as possible.
3) Statement says power will be available in late 2024? So what? Without plant, mine ready and without 100 plus million dollars as needed, what will they do with power?
Expected Upcoming Capital Raising by POS, page-91
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