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).
View attachment 3578597BSX 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:View attachment 3578633A scalable and modular Downstream refining business with high margins and not reliant on nickel prices:View attachment 3578837We 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:View attachment 3578843View attachment 3578846Vietnam - the right locationThe project is surrounded by great infrastructure via all modes of transport and cheap "green" hydropower renewable energy.
View attachment 3578939Vietnam 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.
View attachment 3578849View attachment 3578852Vietnam - 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
View attachment 3578930Green NickelBSX 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
View attachment 3578942Potential of by Products:Within the projects there are other metals which can be processed and sold to generate by-product credits.
View attachment 3578954Broker 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.
View attachment 3578963View attachment 3578960View attachment 3578966Timeframes for Downstream and Upstream :View attachment 3578981Join 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) 
View attachment 3578987New World Metal Conference Sept 21:Good luck with your investment decision and please DYOR
