Hi DDBB TB and DUV
POS mentioned a mix of debt and equity capital in the 21 Dec update.
I agree with the idea that debt capital comes from the market.
Imho, the story is one of supply not price.
So possibly, POS could have an offtake agreement with a friendly smelter or friendly energy company, or EV company etc (or maybe many agreements) to guarantee supply at a variable price at any time - eg LME average price per month plus a premium. Global nickel market will set the LME avg price. No need for POS to seek bidders.
I accept that the offtake partner could be an intermediary - but why?
Further, signals by EV manufacturers (eg Tesla) and Ni refiners indicate a desire for some vertical integration.
This can be accomplished by an equity stake and a friendly seat at the board table. No need for consolidation from takeover.
Hence my preference for an equity stake by an offtake partner. I'd also prefer a big player.
For example BP is an oil explorer, and a fuel retailer. BHP is an explorer and supplier of iron and steel, etc. Rio also. The list goes on.
This would help 'stabilise' the share price also.
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