Nickel Boner Update, page-5305

NP UP 2%
9.62 now
up 20c from asx daily lows, yet again.

BFS 2022 assessed aisc BS SS to BS circuit 1 & 2 at 4.90 uslb
NP at 9.62so at an extra 14% grade based production plus premium for 16% sulphide conc with low impurity low arsenic.

thats on my maths a FCF of $105Mpa at a mere 5% of JORC over 4 years at a low 1.0% mill grade.
"compelling economics" alright.

the prior CEOs calls 2015 to 2019 for restart at a NP of 7.00 appear spot on now.
Even at 5.50 pos is making money as no need for $3B in debt like FMG ANL or even $500M debt like SIR MCR, taking 4 years, its already all built.

if the grade increases to 1.3%, production goes to 11ktpa from 8ktpa & costs drop to $4.40 uslb from higher low grade of 0.72% then that $100Mpa goes to $164Mpa on my maths

at a low PER of 10.0 thats 49c ps
WSA PER was 39.0
MCR PER is 29.0
PRU PER is 27.4
At the usual PER of 21.0, thats 100c ps.
TBC once 2.2mtpa mills start up & market sees revenue & FCF double to triple.

its multiples higher, just market INSTOs have to see the moneybags for real.

POS is the 3rd Force in Nickel Ore.