POS is a company with 88,000 tons of contained Nickel already...

POS is a company with 88,000 tons of contained Nickel already and the average head grade is 1.78% for the 88,000 tons. The exploration upside has only just started. For those of you who keep flapping on about the Windarra asset as if its the only game in town, seem not to be able to read. [take a look at some of the old underground drilling results before it was shut down??? 6%+ Ni]Denny Bore is already 1m tons at 2.45% Ni.
The management have told the market they are on the look out for more assets while the market and price are weak. The Half yearly popped out after market and its worth reading. The de-watering is basically completed and the mine refurbishment costs have been less than expected. The company has enough cash to operate, access to US$35m more from Harbinger if and when they require it[how many companies can say that?]
I will take the cheapest shell Twiggy and Harbinger control with the cash and 88,000 tons of contained nickel for $36m market cap any day of the week. Its clear that the market does not care about to many things at the moment and are discounting everything. In a half decent market, this would have a market cap of $150m in a heart beat. I am waiting to see what sort of potential new deals they are looking at over the next few months. If they pick off something, then its obvious it will add value. dyor and i remain long.