Deano, I like many investors bought into Poseidon Nickel because...

Deano, I like many investors bought into Poseidon Nickel because of the Andrew Forrest factor and unfortunately for me and others we have been left with eggs on our face with him stepping down recently.

The reason this company is facing tough times now is because he and his esteem team of directors failed to deliver on many critical points, which realistically he should've been able to deliver on if you take his standing in the mining industry and his wealth into consideration.

Maybe his only involvement with this company back in 2007 was to provide a lucrative job to his mates?
This is a farce imo and is only too common in this industry where directors are on many boards with their mates.

For this company to have spent what they have so far and really be no closer to moving this project forward shows a complete lack of professionalism and credibility by senior management. The money needed should've been found years ago when the nickel price was well over ten dollars a pound. But, the fact that they're still playing investors with their talk of finance is deeply disturbing when obviously it's a long shot in the current commodity cycle.

I agree with you that this company will find it difficult to find investor support for many reasons and if finance is not forthcoming in the next few months the share price will be decimated.

Also for Singleton to claim that Andrew Forrest is still committed to this company's future in the latest quarterly (being the largest shareholder) is also ridiculous and shows their total contempt to the many investors whom have lost money or are facing uncertainty with their investment.

I was foolish to believe Neil Hutchison many years ago that Andrew Forrest would turn Poseidon Nickel into the biggest producer in Australia. In my opinion Dean this will never happen.