Nickel Boner Update, page-428

I've just come back from walking the dog where I had another thought ...

The argument on the negative attribute side of POS is analogous to a buyer talking value of a crumby house in lousy condition on a very valuable block of land. If people only focus on how bad the house is and how much it will cost to renovate, they are not having appreciation for the property's value as a whole by not acknowledging that in fact the main value is in the land anyway.

So too with POS. The value is in the nickel assets and the processors. Even if one allows $50m to make the processors "Mickey Mouse you beaut state of the art" as new improvements, you then just need the people to drive it. Given we are heading into nickel sulphide demand territory in the coming years, if we assumed nickel might stabilize modestly at between U.S.$6 and $7/lb, don't you think some enterprising either end user, or producer would buy POS lock stock and barrel for maybe $150 to 200 mil today? To me, even that would sound cheap for POS. But it's capped at $30 plus mil. now. How can one think anything but that the shares are cheap at 3plus cents!!!?
Think I'll buy another bloody million of the bastards!

That's all. Good night ...