NP is irrelevant right now to POS and has been for a decade as...

NP is irrelevant right now to POS and has been for a decade as POS aint producing.
Its all about costs as I have been saying for a decade on here.
The NP is the revenue side and POS can produce profitably at ANY NP imho.
Just cut costs like FMG or IGO did, simple.

The problem is flaccid management, flaccid top 3 and the risk/cost in restarting which has seen many false restarts 2013 2014 2015 2018 2023

The best time to restart was in 2022 with the booming NP but PH ignored the NP and chose to do studies instead unlike MCR PAN and now we see what happened to them.
The positive is we are still listed & trading with NO DEBT NO OFFTAKE and are the last man standing now. The stalling may have saved the company now but also we missed on the upside like PAN MCR both did 4-10 x MBer runups on their restarts unlike POS.

Whats worse, making moolah at the 2022 top but losing it all now or surviving now with the chance to make moolah when everyone else has closed shop?

Well POS has survived and can survive for years at this rate like before
but I suspect CJ has some more GMD & Li news incoming for us for another 2024 pump.