POS

0.00%

0.4¢ poseidon nickel limited

Another good post -- this time from a non-holder, no less. Just...

First 26 Last

Share
Profile

Follow
zebster

5,043 Posts.

2248

03/02/22

18:40

Post #: 59338933
Share

Originally posted by sydneyguy: ↑

You do not mine a resource

you Mine and process a reserve

the reserve is turned into money

pos has only 28300 tons of probable nickel in its ore reserve category between silver and black swan - open pot and underground

It is working on changing that

it needs a lot more -to get a return on the forecasted capital it needs to restart imo

28300 tons of only probable nickel isn’t going to justify a restart imo

this is why they continue to spend money drilling to build and to better define what they have

probable is maybe just greater than 50 percent -

maybe some restart based on only having 28300 tons of probable only ore reserved which requires 10s millions of capital to restart in the past up in cloncurry but can’t see that happening here

It already has a market cap of 303 m - it’s plant is there needing refurbish

- it’s reserve has not got anything in proven catagory as of yet - not one ton— hence all the continued drilling assaying and studies of certain aspect of future production

hence it continues to drill until It can get a enough ore in its reserve to justify a refurb and restart -

without the jorc reserve building it can’t currently prove its economics -

there is no delay - they are and have attempted to build the reserve but haven’t cracked it yet - it’s that simple imo

once that ore statement starts to firm up then they will if it’s enough look at a full dfs right - sure they know the costs of refurb but they need ore reserves to mine - they are clearly working to achieve that - time will tell if they are successful - unfortunately the last major drilling campaign found lots of stuff but the reserve delivered is only 28300 t “probable “ nickel - hence lots more work to find more and to better define the reserve

Until then That’s the risk you take

It has competitive advantage with plants sitting there - it has semi current refurb costs - it just needs to have a bigger nickel reserve and until it does imo there won’t be a rush to cap raise and restart

good luck —

Expand

Another good post -- this time from a non-holder, no less. Just goes to show that there are plenty of people out there, including non-holders, who know are attuned with reality and can post about it in a coherent and realistic manner.
Cheers.

POS Price at posting: 9.9¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

HVN

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

CYM

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

TBN

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

LLC

Lendlease sells off US east coast construction operations in latest global divestment push

HLX

Helix investor makes partial takeover bid, proposing board changes

EBR

EBR reaches review milestone for wireless cardiac pacing device

VYS

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Results wrap: Austal, TPG Telecom and Downer

PYC

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

There are more pages in this discussion • 139 more messages in this thread...

First 26 Last

Add POS (ASX) to my watchlist

(20min delay)
Last 0.4¢		Change 0.000(0.00%)		Mkt cap ! $14.85M

Open	High	Low	Value	Volume
0.3¢	0.4¢	0.3¢	$8.018K	2.354M

Buyers (Bids)

No.	Vol.	Price($)
5	306696	0.4¢

Sellers (Offers)

Price($)	Vol.	No.
0.5¢	25743318	23

View Market Depth

No.	Vol.	Price($)
5	306696	0.004
109	75613539	0.003
39	66435874	0.002
21	85592753	0.001
0	0	0.000

Price($)	Vol.	No.
0.005	25743318	23
0.006	13369000	13
0.007	13318277	10
0.008	2300000	2
0.010	241256	2

Last trade - 15.29pm 30/08/2024 (20 minute delay)

POS (ASX) Chart

Another good post -- this time from a non-holder, no less. Just...

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Lendlease sells off US east coast construction operations in latest global divestment push

Helix investor makes partial takeover bid, proposing board changes

EBR reaches review milestone for wireless cardiac pacing device

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Results wrap: Austal, TPG Telecom and Downer

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Another good post -- this time from a non-holder, no less. Just...

Top Stories

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Lendlease sells off US east coast construction operations in latest global divestment push

Helix investor makes partial takeover bid, proposing board changes

EBR reaches review milestone for wireless cardiac pacing device

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Results wrap: Austal, TPG Telecom and Downer

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News