POS has thus far been a stellar bad investment for me, held both here and in my SMSF.

There's lots of question marks about whether they can make this work... but there's also a good team in place and some smart money on the register. POS attracted $6M through a placement late last month and today opened their retail SPP at the same price of $0.035. SP closed today at $0.037 trading at 12-month lows today. The SPP hopes to raise a further $3M to fast-track work at Black Swan for production in 2024.

Managing Director and CEO, Peter Harold, commented “this placement and SPP will support the Company’sstrategy to grow our nickel inventory and to “Fill the Mill” at Black Swan as we move to a decision to proceed in Q2 2023 with first production to follow in 2024. The funds raised will be used to convert more Resources to Reserves at Black Swan to expand the mine life, continue with pre-production works, order long lead items, complete the rougher concentrate Feasibility Study and undertake an extensive drilling program at Lake Johnston targeting Emily Ann style (+3% Ni) mineralisation.

Trading Halt today on what sounds like a potentially important and exciting announcement (but of course we'll see):

"pending an announcement by the Company regarding significant funding development with the Pure Battery Technologies Kalgoorlie battery metals refinery, in which we are partnering with the key developer."

More about Pure Battery here https://purebatterytech.com

"Driven by the demand for EV’s and energy storage, the battery market is exploding globally. This in turn has increased the need for pure and flexible battery materials. PBT is in a unique position to support battery producers by providing cleaner battery material at a more affordable price. PBT will be cost leaders in the battery market and will also be powering the real clean energy evolution."

Another broadly positive announcement from POS today on the resource at Silver Swan, important as it is another confirming step toward their "feed the mill" strategy.

Disc: held with fingers crossed

HIGH-GRADE INTERSECTIONS AT SILVER SWAN INCLUDING 15 METRES AT 17.92% NICKEL

20 December 2021

HIGHLIGHTS

• ? Latest infill drilling assay results within the Tundra-Mute Inferred Resource boundary has identified an area of continuous well-developed massive nickel sulphides. Results include:
• o PTMD005: 12.9m @ 10.63% Ni from 241.1m 
• o PTMD007: 6m @ 11.36% Ni from 257m
• o PTMD014: 11m @ 13.26% Ni from 288m
• o PTMD015: 3.5m @ 16.30% Ni from 287.9m 
• o PTMD018: 15m @ 17.92% Ni from 265m
• 
  
• ? Three untested conductive down hole EM plates recently identified (>15,000 Siemens). The plates are potentially due to the presence of well-developed nickel sulphides and are located in extensional positions to the existing Silver Swan High Grade Resources. Further EM surveys are scheduled
• ? High priority underground drilling programs continue at both Tundra Mute and below the Black Swan Open pit from the Gosling Drill Drive
• 
  
• Managing Director and CEO, Peter Harold, commented, “we are delighted that the recent Silver Swan drilling has returned a series of high-grade results which will most certainly add tonnes to the resource base at Tundra- Mute. While these results are very significant on their own, the fact that the down hole EM survey has returned strong EM conductors is a good indication that there is additional high-grade mineralisation in the vicinity of the existing know mineralisation. These are fantastic results and demonstrate the prospectivity of the Silver Swan Channel.”