When POS surprise purchased LJ from Norilsk in 2014, Norilsk had...

When POS surprise purchased LJ from Norilsk in 2014, Norilsk had JORC tables on book for EA of "resources of 334,000t grading 4.18 per cent nickel" & this was repeated in the BFS DFS for LJ touted by DS but not in the JORC tables where it has been ignored ever since.

POS has 334,000t grading 4.18 per cent nickel at EA at LJ but its been disregarded for whatever reason despite it being purchased as JORC resources. I have rasied this many many times.

EA & AR are potentially massive new high grade mines at LJ and highly unexplored.
Way higher grades than Nova of 2.0% and potentially larger than Nova nearby.

IGO & BMM should be very very keen on stealing LJ for cheap for synergy & large revenue reasons.
If Nova is worth $2,100M to IGO with $500M debt whats LJ worth then with the same size mill, higher grades, better roads, airstrip, 140 person camp & NO DEBT?

When they found AR as an extension of EA, they didnt drill the rest of EA or AR that was wide open & served the bulk of the LJ mill.
Now when they talk of LJ its only MH low grade as in the JORC tables
So this is misleading to talk of LJ as low grade when the history shows totally the opposite and the uneducated peasants ignore EA AR high grade.

I raised the EA with DS and it was excluded as they touted EA AR as the key to the LJ restart,
but when NP collapsed in 2015 it all went quiet and cold on this & it got shuttered.

Looking at it now, LJ is a HIGH GRADE HIGH MARGIN operation with costs touted as too high as they only included the MH resources at 1.4% grades, once you include EA AR and NO DEBT turnkey with $30M capex already spent on its restart then the AISC should drop to around us$3.39 from 5.39 with NP today at 7.90 and hey presto, massive FCF at 60% margins on min 8KTpa production.

This is why I STRONGLY OPPOSE the sale of LJ.
Its worth Bs like Nova is but market doesnt value it that way as yet & ignores EA AR, the mill the airstrip the toilets.
With rising NP and dropping AISC & drilling EA AR into larger higher grade reseources and finally adding this "334,000t grading 4.18 per cent nickel" from EA into JORC (as purchased from Norilsk), the economics are totally different.

Thats why DS labelled LJ as the jewel in the crown.