For New Investors (and current)

BSX is one of the most undervalued Nickel companies on the ASX based on the downstream PFS vs Capex and current market cap.

DS PFS Base case post tax NPV= US$2billion (nickel price $16k)
DS PFS Spot case post tax NPV= US$3.5billion (nickel price $19k)
Current Nickel Price over $20k
Capex $491m (Maybe the cheapest /one of the cheapest announced by any ASX nickel player).





BSX current state:

Current MC only $171m at 51.5c
SOI only 331.8m
Cash $14m

48% of the company held by top 4:

Deutsche Balaton 18%
EcoPro 12%
Board & Management 12%
Fidelity 6%

- EcoPro is the largest Cathode manufacturer in the world
- Fidelity is the largest institutional investor in the world
- Deutsche Balaton is one of Europe's largest investment companies

Current share price performance:




A scalable and modular Downstream refining business with high margins and not reliant on nickel prices:




We currently /plan to have 2 large Open pit mines and 3 underground mines

We have 25 targets and 10 drill rigs onsite




BSX will be producing Class 1 Battery grade Green Nickel - NCM 811 which commands a premium to base metal:


Vietnam - the right location

The project is surrounded by great infrastructure via all modes of transport and cheap "green" hydropower renewable energy.




Vietnam is a booming economy and has the potential to become a major hub in Asia for the Lithium-ion battery industry.

LG Chem and Samsung have already established electronics manufacturing plants in Vietnam ( investment already of ~US$20bn) and plan to construct EV & Li-oin battery Manufacturing plants along with Vinfast in Vietnam.


Vietnam - Labour:

Vietnam's labour costs are one of the lowest in the world which gives BSX a huge advantage in keeping costs down and margins high



Green Nickel

BSX have trade marked "Green Nickel".
Scott said "No one in Australia can say they have Green Nickel"

BSX have the cleanest and greenest Nickel in the world!!!

Tesla want Green Nickel = "Class 1 Green Nickel" which BSX will be producing



Potential of by Products:

Within the projects there are other metals which can be processed and sold to generate by-product credits.




Broker reports:

2 Australian brokers and an American firm have initiated coverage on BSX

Price targets range from $1.16 to $1.90 within the next 12mths

BSX is starting to wake up and expect big funds to get onboard soon imo.




Timeframes for Downstream and Upstream :



Join the dots..........EcoPro our major shareholder has signed a deal to supply SK Innovations with NCM Nickel Cathodes from 2024 (that's when BSX will start producing)




New World Metal Conference Sept 21:





Good luck with your investment decision and please DYOR