POS survived with $1M cash at bank and NP of 3.50 & debt owed to...

POS survived with $1M cash at bank and NP of 3.50 & debt owed to Jeffries & AFAF of $50M on top !

in 2009 with only $2M cash it bid for Ravensthorpe for $300M using AFAF but was refused bettered by an offer of $280M from FQM.
Look at Ravensthorpe now on and off shutterings and mass cash losses
POSCO invested $300M cash into it few years ago for a 30% stake & lost the lot LOL!
FQM got its money back but POSCO was burnt badly.

If POS can survive the nuclear winters before, today it is way way easier imho -
POS now got NO DEBT
POS got NO OFFTAKE so no trafigura litigation or breach of contract dramas unlike PAN MCR IGO BHP
POS got NO JUNKBONDS or yankee high rate debt unlike MBN AGO FMG in the past that did or almost sent them under.
POS got MASSSIVE developed production ready assets, 7 MINES, 3 MILLS, 3 staff camps and 3 airstrips plus 100 toilets.

What POS needs is to sweep away its backstabbing top 3 holders who churn and burn wealth and get a top holder that can fund to this to production.

MINRES was an option but they too proven to be backstabbers even for $15M forget $1,000M!
POS BOD have to realise that POS has to go it alone as before and needs a new top holder.

POS survived in way worse conditions, with way more debt and way lower NP than now.
POS is the last man standing.