POS 18:23pm late announcement.

The updated MRE compared to the 2022 estimate resulted in a:

 48% increase in the contained Ni in the Measured and Indicated JORC Resource Categories;

 14% increase in the average Ni grade; and  8,000t increase in total contained Ni

Offtake and Debt Financing The Company is negotiating offtake and project debt financing with two large international groups. The process progressed significantly over the quarter with both groups providing draft offtake and financing agreements. The Company has reviewed these documents and continues to negotiate with assistance from our concentrate marketing consultant and lawyers.

POSEIDON NICKEL LIMITED (ASX:POS) - Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-1 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Poseidon’s Windarra DFS ref 23/7/21

Windarra has been found to have an ore reserve of between 5.54 and 5.73 megatons, with a grading of 0.84 grams of gold per tonne and 2.1 grams of silver per tonne.

This equals around 150,000 ounces of gold and 375,000 ounces of silver.

Depending on the mining method used, Windarra could produce between approximately 53,500 and 55,200 ounces of gold over a 45-month period.

The company says the project’s DFS has found it to be profitable. Poseidon is now looking for a partner to help them bring Windarra into production.

The DFS found both hydraulic mining and amphibious dredging to be viable mining methods for the project.

Windarra will likely cost between $25.8 million and $29.5 million to develop. It has an expected net operating cash flow of $30.6 million and an all-in sustaining cost of $1,393 per ounce.

Therefore, the company believes it would take between 27 and 28 months from the start of construction to pay back the cost of the project’s development.

Windarra has received ministerial approval. It also has environmental approval, conditional upon its mining proposal being approved within 6 months.

to add: Market whispers here. BHP sourcing Nickel prospects.