MarcusToday interview with PH: “A bridge to far” by Padley!

MarcysToday interview by Henry. 24 July 2023.
Newsletter comments below.

“Yesterday I sat down with Peter Harold from Poseidon Nickel (POS). First off, full disclosure, I hold no POS at all. Never have. But then again, he is not my brother-in-law, and so I am not as close to the story as Marcus.

CLICK HERE (apologies, can’t add the link).

Fair to say it was an interesting conversation.
We did focus on what the delays mean to POS. In my mind, the power generation issue meant that it was delayed a long time, but the reality is that things can happen before the Black Swan is hooked up to the Grid. It is still a delay, but production should start at the beginning of 2025.Have a listen and make up your own mind. My biggest issue is comparatives. I love my comparatives. Looking at LRS compared to its neighbour, Sigma Lithium. How one can and may grow into another. My issue is that the comparison company is Panoramic Resources (PAN) is only valued at $188m. And it looks like it is raising $40m today. Not helpful for the sector. It too is a restart and not without issues. Apparently, it is tough to get people to work in the Pilbara, according to Peter. In Kalgoorlie,, there seems to be a massive shortage of beds. Accommodation is at a premium. When I look at PAN, with a market cap of $188m and already producing, this is my road map. POS is valued after the recent fall at around $100m with $10m in the bank and no funding for the $100m capex in place yet. Yet. Plenty of interest, according to the CEO. It also has to work through some metallurgical issues. PAN is working through some production issues with filters busting. Both sub-optimal.”

Personally very disappointed in Marcus Padley.
As for the board & management team at POS, need to notate their names & keep some distance in what they get involved with the future.