Hi POSters.Like most long term holders, I feel a degree of...

Hi POSters.

Like most long term holders, I feel a degree of frustration with POS' languishing share price. However, I also acknowledge that the current management team has a very solid plan (no Baldric, it is a cunning plan but it does not involve a large turnip!) and it is methodically pursuing that plan. My observations about management is that the word "methodical" is most apt - it a hallmark of their approach and that approach will pay off for us as investors. We have a clear cut pathway to success, based on getting us into production next year -:

The BFS is due shortly and there has been nothing to suggest that it will be unduly delayed.

Obviously, this is the key. If you review the last BFS in 2018 and plug in updated and anticipated information, the new BFS will demonstrate a strong business case to crank up mining and processing. The financiers will have sufficient confidence in POS to provide funding. There is lots of optimism around the nickel price, and even if we adjust the AISC up from around $5/lb to say $6.50/lb, - there are excellent profits available.

Built into the BFS will be various nickel price scenarios, with conservative pricing probably ranging from $8-9 through to $12/lb - which will reinforce profit projections. The "fill the mill" strategy will also provide comfort and demonstrate an improvement in terms of life of mine compared to previous studies. Trucking ore from Windarra and adding that into Black Swan ores provides the throughput warranted to refurb the processing plant.

We also have considerable prospective ground to extend our reserves; including more high grade targets around Silver Swan/Golden Swan and pretty decent targets south at Lake Johnston. Once we are generating cash flow, the drilling programs, which are already mapped out, will be implemented and we are well placed to grow he nickel assets.

Yep, the share price is crap and the market cynicism around POS ever becoming a producer is substantial. But - that means there is a massive upside payoff when we do finally brush off the cobwebs and start digging dirt. IMO, we are undervalued atm and I intend to snap up a few shares (I still have a spare kidney to sell on the black-market) while they are this low.

It is time to drop your pants, shine your s.s balls, hang in there and get ready to see the s.p launch. As T.B and Buzz Lightyear would say "to the moon and beyond!"

As ever, DYOR
Cheers
U