AMcC,I think it will be years until there is an income stream....

AMcC,

I think it will be years until there is an income stream. This is a good thing because POS is extraordinarily well endowed with low risk organic growth opportunities to exploit; I expect;

1) The restart of the BS/SS plant using a combination of forward sales, borrowings and gold tailings sale without a further capital raising. Cash flow in mid 2023.
2) Cash flow from BS/SS to restart mining at Windarra with ore trucked to BS to take the plant up to full capacity in early 2024.
3) Cash flow from BS to drill out Emily Ann and restart LJ in 2025.

The combined free cash flow will then be significant.

There are two great risks in this;
a) BMM and/or AF take over POS before it reaches its potential.
b) Management get big heads and buy more assets in Australia or overseas at the peak of the market.

Bacci