In Feb 2021 I posted this - Very apt today on the news of the...

In Feb 2021 I posted this -
Very apt today on the news of the SECRET BOD selling of LJ our jewel in the crown, a label made by the CEO DS in 2014 for a pathetic $16M instead of $280M or $700M with NO TRAILING COMMISSION.
POS could have sold a 51% stake and kept 49% and the tenements for $120M not $16M imho
LJ is a Nova mine & MILL on steroids.
AFAF BMM IGO BHP all lost out on this massive asset as has now POS
but MINRES has made a fortune imho.
and CE has got his revenge on AFAF after his AGO backstab.


"Talk of selling LJ is NUTS.
If you want to sell something then sell Windarra to BHP for $200M
It doesnt have a mill, is underwater and medium grade of 1.7% but a historic site near BHPs Mt Keith mill which needs more ore feed.

LJ has 2 prior operating mines at higher grades than WSAs flying fox now of 2.9%, a new high grade discovery of Abi Rose in a known nickel area, a 1.5MTpa near new mill same size as at Nova that cost SIR/IGO $800M to build.
Also if NH is right that this is a flying fox but better and better grades then a WSA MCap of $700M comes into the thinking long term as WSA would LOVE to get their hands on LJ dirt cheap plus a near new mill tripling the capacity and doubling their grades

Why cant POS do the same as WSA are doing at flying fox, we have a better mill and better deposit.
The path forward must mean to production as its a turnkey operation at LJ ready to go for some time,
remember DS spent $30M on it 2015 to start production there then the NP dived 8 to 4 and it got shuttered again.

With NP at 8.44 today, LJ can profitably restart even based on the prior DFS of 2014-2015
If it was able to restart in 2015 with NP at 6-7 it can today with NP at 8.44 way higher.
Its a $700M MC sitting and waiting on a plate.

LJ is worth way more than WSA is as it has nearly triple WSAs milling capacity of 0.6MTpa and way better grades at 5.1% rather than 2.9% and can even outproduce WSA current 14kTpa on its own with No need for BHP tolling.

LJ is worth more than $700M to POS just the market doesnt value it that way as its a cash drain on C&M atm & NOT producing yet, bringing it to production will boom the MCap and boost EBITDA overall. LJ is a highly profitable high grade large milling operation way better than Nova-Bollinger.
On its purchase in 2014 the POS SP near doubled from 17c to 28c

LJ is the JEWELL in the Crown, a phrase coined well by exCEO, DS.
DS the LEGEND!
DS and NH knew how big and important LJ was to POS.Does PH?!"