Well well well, I was SPOT ON ! The emperors new clothes were...

Well well well,
I was SPOT ON !
The emperors new clothes were non existent, the fable I repeated about this scenario came true.

"And I have created some amazing new clothes. These clothes are only for intelligent people. In fact, stupid people cannot even see these clothes...” The emperor clapped his hands."

MCR was the swing producer not POS
MCR had NO MILL yet POS has 3 massive ones all built and in "remarkably good condition"
MCR had the high costs not POS which has BFS stated AISC of $4.90 uslb

My call since July over 6 months ago that the MCR purchase was an overpriced disaster & likely to be shuttered due to large cash losses, NO MILL while paying exorbitant BHP tolling fees was SPOT ON !

and dufus AFAF fell for it hook line and sinker

Cant believe he hasnt sacked ALL his advisers & Luca who sold him these dud "clothes"..
yes that Luca who showed up at the 2020 POS AGM and then crazily advised him to SELL POS shares dirt cheap and ignore POS massive MILLS & MINES,

Its dumb and dumber.

Fact now proven, MCR was NOT worth $760M cash and Noront was NOT worth $450M cash either.
Once again I called both SPOT ON.
AFAF burned through $1,100M cash on those disasters instead of a way smaller sums of $100M on POS & $150M on PAN yet would have had a real producing Nickel empire with 4 mills and 7 mines way larger than IGO.

AFAF just like the emperor who ordered new clothes was arrogant & insolent thinking he knows best & that money can solve all problems by buying black holes in the desert/arctic with NO MILLS and reliant on TOLLING on arch enemy BHP which was total fallacy as i called it many times.

But alas, a rich fool and his money are soon departing company, as I said many times, SPOT ON,
He aint learnt nothing from ANL nor AHZ AGO BWX POS looks like, NOTHING.

He had his Nickel empire sitting on a cheap wooden plate at POS but then chose the other expensive caviar plate encrusted with fools gold.

What we could have done with $1,100M at POS PAN would have been incredible.
Sad to see the job losses but it was all so predictable,
Now AFAF will have to diagnose what went wrong and if he sees reality he ought return to survivor cheap POS and turn us into the Ni empire he already had readied before, but he will have to eat humble pie and apologise to all the LTHs DS RD PH and me who he betrayed here !

Shoulda listened to TB !