Director, RaaS Research Group, Research as a Service (RaaS)

Research as a Service (RaaS)

Director, RaaS Research Group

Insightful Financial Models and Research Analysis

Connect to the right investors through smart and insightful financial models and research analysis.

Equity Bottom-Up

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<h2>Poseidon Nickel Limited</h2>
<h3>Strong fundamentals underpinning development case(s)</h3>
<p>Poseidon Nickel Limited (ASX:POS) has been listed on the ASX-listed since Nov-1993 and is a minerals-play primarily focussed on moving its portfolio of three nickel sulphide assets, located in the Goldfields region of WA, into development. The company is pursuing a ‘fill the mill’ strategy with the goal of becoming a multi-project producer of Ni-sulphide concentrate, at rates greater than 15kt pa, supported by a resource base of c.400kt (Ni) and 180koz (Au) (contained metal). The plan is to be underpinned by a return to production at its Black Swan Project as soon as practical with a Bankable Feasibility Study (“BFS”) evaluating two development cases approaching conclusion...(a) 1.1Mt pa of ore to produce smelter-grade concentrate versus (b) a 2.2Mt pa rougher concentrate for treatment via Pressure Oxidation (POX) and/or High Pressure Acid Leach (HPAL). These outcomes of the studies will underpin a Final Investment Decision. POS has also signed a Memorandum of Understanding (MOU) with Pure Battery Technologies, evaluating the potential of establishing a refinery hub producing battery precursor Cathode Active Material (pCAM) in Kalgoorlie. A commitment to this would assist the 2.2Mt pa business case. The investment case looks attractive, with well-located and well-advanced Ni-sulphide projects, leveraging processing infrastructure and heading into a project sanction. The inexorable drive towards EVs, battery usage in power supply and requirement for speciality steels, should support strong Ni demand and higher commodity prices over the medium-to long-term.</p>
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<h3>It starts at Black Swan with an imminent sanction decision</h3>
<p>The key plank in the fill-the-mill strategy is the Black Swan Project. The asset, which has been on care and maintenance through FY22, includes the Silver Swan underground mine, Black Swan open pit, a 2.2Mt pa concentrator and associated infrastructure. A Final Investment Decision on the scale and scope of an operational restart is due post completion of the BFS. Both considered options come with unique opportunities and risks...smelter-grade ore is likely to require less capex but offset by a shorter project life and perhaps a higher carbon footprint, whilst the rougher concentrate option through to POX/HPA and potentially pCAM would utilise a higher-risk technology. Resource drilling has been completed and the project is estimated to contain c.206kt contained Ni of which some 50% is classed as Measured and Indicated at an average grade of 0.89% Ni.</p>
<h3>There are more options at Windarra and Lake Johnston</h3>
<p>Poseidon also controls the Windarra and the Lake Johnston projects. Lake Johnston has a 52kt Ni Resource at Maggie Hays and a 1.4Mtpa processing plant on C&amp;M. Windarra contains a number of historic discoveries, which were previously mined at the Mt Windarra and South Windarra locations. Significant drilling activity since 2008 underpins a JORC-compliant resource of 150kt Ni with the addition of the new deposit at Cerberus. The company has also delineated a 183koz (Au) gold and 670koz (Ag) resource within the Mt Windarra tailings. The strategy is to restart operations at Lake Johnston after Black Swan is in operation with potentially, ore from Windarra trucked to Black Swan in a later phase. In addition, a 15,000m RC drill programme is planned at Lake Johnston in 2023 on the prospective Western Ultramafic unit.</p>
<h3>Inflation headwinds add uncertainty but fundamentals look strong</h3>
<p>Rising interest rates and inflation numbers point to global growth uncertainty driving the short-term sentiment, however, industry and particularly battery metals fundamentals continue to look positive in a post-inflationary phase supported by the continued roll-out and acceleration of renewable energy projects and take up of EV options.</p>
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Poseidon Nickel Limited
Strong fundamentals underpinning development case(s)
Poseidon Nickel Limited (ASX:POS) has been listed on the ASX-listed since Nov-1993 and is a minerals-play primarily focussed on moving its portfolio of three nickel sulphide assets, located in the Goldfields region of WA, into development. The company is pursuing a ‘fill the mill’ strategy with the goal of becoming a multi-project producer of Ni-sulphide concentrate, at rates greater than 15kt pa, supported by a resource base of c.400kt (Ni) and 180koz (Au) (contained metal). The plan is to be underpinned by a return to production at its Black Swan Project as soon as practical with a Bankable Feasibility Study (“BFS”) evaluating two development cases approaching conclusion...(a) 1.1Mt pa of ore to produce smelter-grade concentrate versus (b) a 2.2Mt pa rougher concentrate for treatment via Pressure Oxidation (POX) and/or High Pressure Acid Leach (HPAL). These outcomes of the studies will underpin a Final Investment Decision. POS has also signed a Memorandum of Understanding (MOU) with Pure Battery Technologies, evaluating the potential of establishing a refinery hub producing battery precursor Cathode Active Material (pCAM) in Kalgoorlie. A commitment to this would assist the 2.2Mt pa business case. The investment case looks attractive, with well-located and well-advanced Ni-sulphide projects, leveraging processing infrastructure and heading into a project sanction. The inexorable drive towards EVs, battery usage in power supply and requirement for speciality steels, should support strong Ni demand and higher commodity prices over the medium-to long-term.



It starts at Black Swan with an imminent sanction decision
The key plank in the fill-the-mill strategy is the Black Swan Project. The asset, which has been on care and maintenance through FY22, includes the Silver Swan underground mine, Black Swan open pit, a 2.2Mt pa concentrator and associated infrastructure. A Final Investment Decision on the scale and scope of an operational restart is due post completion of the BFS. Both considered options come with unique opportunities and risks...smelter-grade ore is likely to require less capex but offset by a shorter project life and perhaps a higher carbon footprint, whilst the rougher concentrate option through to POX/HPA and potentially pCAM would utilise a higher-risk technology. Resource drilling has been completed and the project is estimated to contain c.206kt contained Ni of which some 50% is classed as Measured and Indicated at an average grade of 0.89% Ni.
There are more options at Windarra and Lake Johnston
Poseidon also controls the Windarra and the Lake Johnston projects. Lake Johnston has a 52kt Ni Resource at Maggie Hays and a 1.4Mtpa processing plant on C&amp;M. Windarra contains a number of historic discoveries, which were previously mined at the Mt Windarra and South Windarra locations. Significant drilling activity since 2008 underpins a JORC-compliant resource of 150kt Ni with the addition of the new deposit at Cerberus. The company has also delineated a 183koz (Au) gold and 670koz (Ag) resource within the Mt Windarra tailings. The strategy is to restart operations at Lake Johnston after Black Swan is in operation with potentially, ore from Windarra trucked to Black Swan in a later phase. In addition, a 15,000m RC drill programme is planned at Lake Johnston in 2023 on the prospective Western Ultramafic unit.
Inflation headwinds add uncertainty but fundamentals look strong
Rising interest rates and inflation numbers point to global growth uncertainty driving the short-term sentiment, however, industry and particularly battery metals fundamentals continue to look positive in a post-inflationary phase supported by the continued roll-out and acceleration of renewable energy projects and take up of EV options.







Poseidon Nickel Limited - Strong Fundamentals Underpinning Development Case(S)

Materials Analyst/Strategist, Janus Analysis

Gaius King

Materials Analyst/Strategist

Janus Analysis

<ul>
<li>COVID-19 disruption will last longer than many are forecasting</li>
<li>China property sales very weak, as is its domestic rebar utilisation</li>
<li>
<a href="https://www.smartkarma.com/entities/gold-road-resources-ltd" target="_blank" data-smartkarma-citation="entities:6698:1" rel="noopener">Gold Road Resources (GOR AU)</a> has decades of probable production in front of it</li>
<li>Forecast <a href="https://www.smartkarma.com/entities/wesfarmers-ltd" target="_blank" data-smartkarma-citation="entities:1104:1" rel="noopener">Wesfarmers Ltd (WES AU)</a> evaluating 2<sup>nd</sup> takeover bid for <a href="https://www.smartkarma.com/entities/lynas-corp-ltd" target="_blank" data-smartkarma-citation="entities:20374:1" rel="noopener">Lynas Corp Ltd (LYC AU)</a> </li>
<li>Boda could be a company maker for <a href="https://www.smartkarma.com/entities/alkane-resources-ltd" target="_blank" data-smartkarma-citation="entities:19111:1" rel="noopener">Alkane Resources (ALK AU)</a> </li>
<li>
<a href="https://www.smartkarma.com/entities/bhp-billiton-ltd-adr" target="_blank" data-smartkarma-citation="entities:5424:1" rel="noopener">Bhp Billiton Ltd (Adr) (BHP US)</a>, <a href="https://www.smartkarma.com/entities/rio-tinto-ltd" target="_blank" data-smartkarma-citation="entities:13:1" rel="noopener">Rio Tinto Ltd (RIO AU)</a>, <a href="https://www.smartkarma.com/entities/fortescue-metals-group-ltd" target="_blank" data-smartkarma-citation="entities:41:1" rel="noopener">Fortescue Metals (FMG AU)</a>, <a href="https://www.smartkarma.com/entities/yellow-cake-plc" target="_blank" data-smartkarma-citation="entities:27844:1" rel="noopener">Yellow Cake PLC (YCA LN)</a>, <a href="https://www.smartkarma.com/entities/gold-road-resources-ltd" target="_blank" data-smartkarma-citation="entities:6698:1" rel="noopener">Gold Road Resources (GOR AU)</a>, <a href="https://www.smartkarma.com/entities/lynas-corp-ltd" target="_blank" data-smartkarma-citation="entities:20374:1" rel="noopener">Lynas Corp Ltd (LYC AU)</a>, <a href="https://www.smartkarma.com/entities/syrah-resources-ltd" target="_blank" data-smartkarma-citation="entities:1978:1" rel="noopener">Syrah Resources (SYR AU)</a>, <a href="https://www.smartkarma.com/entities/walkabout-resources-ltd" target="_blank" data-smartkarma-citation="entities:16753:1" rel="noopener">Walkabout Resources (WKT AU)</a>, <a href="https://www.smartkarma.com/entities/orocobre-ltd" target="_blank" data-smartkarma-citation="entities:3572:1" rel="noopener">Orocobre Ltd (ORE AU)</a>, <a href="https://www.smartkarma.com/entities/galaxy-resources-ltd" target="_blank" data-smartkarma-citation="entities:13914:1" rel="noopener">Galaxy Resources (GXY AU)</a>, <a href="https://www.smartkarma.com/entities/alkane-resources-ltd" target="_blank" data-smartkarma-citation="entities:19111:1" rel="noopener">Alkane Resources (ALK AU)</a>, <a href="https://www.smartkarma.com/entities/spdr-gold-shares" target="_blank" data-smartkarma-citation="entities:8632:1" rel="noopener">SPDR Gold Shares (GLD US)</a>, <a href="https://www.smartkarma.com/entities/sandstorm-gold-ltd" target="_blank" data-smartkarma-citation="entities:25752:1" rel="noopener">Sandstorm Gold (SSL CN)</a>, <a href="https://www.smartkarma.com/entities/jameson-resources-ltd" target="_blank" data-smartkarma-citation="entities:1923:1" rel="noopener">Jameson Resources (JAL AU)</a>, <a href="https://www.smartkarma.com/entities/paladin-energy-ltd" target="_blank" data-smartkarma-citation="entities:10117:1" rel="noopener">Paladin Energy (PDN AU)</a>, <a href="https://www.smartkarma.com/entities/atrum-coal-nl" target="_blank" data-smartkarma-citation="entities:9553:1" rel="noopener">Atrum Coal Nl (ATU AU)</a>, <a href="https://www.smartkarma.com/entities/catalyst-metals-ltd" target="_blank" data-smartkarma-citation="entities:4293:1" rel="noopener">Catalyst Metals (CYL AU)</a>, <a href="https://www.smartkarma.com/entities/emmerson-resources-ltd" target="_blank" data-smartkarma-citation="entities:18705:1" rel="noopener">Emmerson Resources (ERM AU)</a>, <a href="https://www.smartkarma.com/entities/exore-resources-ltd" target="_blank" data-smartkarma-citation="entities:16357:1" rel="noopener">Exore Resources (ERX AU)</a>, <a href="https://www.smartkarma.com/entities/stavely-minerals-ltd" target="_blank" data-smartkarma-citation="entities:20213:1" rel="noopener">Stavely Minerals (SVY AU)</a>, <a href="https://www.smartkarma.com/entities/bellevue-gold-ltd" target="_blank" data-smartkarma-citation="entities:2297:1" rel="noopener">Bellevue Gold (BGL AU)</a>, <a href="https://www.smartkarma.com/entities/allegiance-coal-ltd" target="_blank" data-smartkarma-citation="entities:14443:1" rel="noopener">Allegiance Coal (AHQ AU)</a>, <a href="https://www.smartkarma.com/entities/breaker-resources-nl" target="_blank" data-smartkarma-citation="entities:19210:1" rel="noopener">Breaker Resources Nl (BRB AU)</a>, <a href="https://www.smartkarma.com/entities/lion-one-metals-ltd" target="_blank" data-smartkarma-citation="entities:28159:1" rel="noopener">Lion One Metals Ltd (LLO AU)</a>, <a href="https://www.smartkarma.com/entities/blackstone-minerals-ltd" target="_blank" data-smartkarma-citation="entities:28181:1" rel="noopener">Blackstone Minerals Ltd (BSX AU)</a>, <a href="https://www.smartkarma.com/entities/poseidon-nickel-ltd" target="_blank" data-smartkarma-citation="entities:12760:1" rel="noopener">Poseidon Nickel (POS AU)</a>, <a href="https://www.smartkarma.com/entities/mincor-resources-nl" target="_blank" data-smartkarma-citation="entities:6731:1" rel="noopener">Mincor Resources Nl (MCR AU)</a> </li>
</ul><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/121/872/original/Table%201.png?1583703969" class="editor-image img-responsive" data-smartkarma-image-id="121872"></figure><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/121/873/original/Table%202.png?1583703993" class="editor-image img-responsive" data-smartkarma-image-id="121873"></figure>


COVID-19 disruption will last longer than many are forecasting
China property sales very weak, as is its domestic rebar utilisation

Gold Road Resources (GOR AU) has decades of probable production in front of it
Forecast Wesfarmers Ltd (WES AU) evaluating 2nd takeover bid for Lynas Corp Ltd (LYC AU) 
Boda could be a company maker for Alkane Resources (ALK AU) 

Bhp Billiton Ltd (Adr) (BHP US), Rio Tinto Ltd (RIO AU), Fortescue Metals (FMG AU), Yellow Cake PLC (YCA LN), Gold Road Resources (GOR AU), Lynas Corp Ltd (LYC AU), Syrah Resources (SYR AU), Walkabout Resources (WKT AU), Orocobre Ltd (ORE AU), Galaxy Resources (GXY AU), Alkane Resources (ALK AU), SPDR Gold Shares (GLD US), Sandstorm Gold (SSL CN), Jameson Resources (JAL AU), Paladin Energy (PDN AU), Atrum Coal Nl (ATU AU), Catalyst Metals (CYL AU), Emmerson Resources (ERM AU), Exore Resources (ERX AU), Stavely Minerals (SVY AU), Bellevue Gold (BGL AU), Allegiance Coal (AHQ AU), Breaker Resources Nl (BRB AU), Lion One Metals Ltd (LLO AU), Blackstone Minerals Ltd (BSX AU), Poseidon Nickel (POS AU), Mincor Resources Nl (MCR AU) 


New J. Hutton – Exploration Report (Weeks Ending 08/03/20) Abridged

<ul>
<li>Pure iron ore plays outperforming diversified producers, for now...</li>
<li><strong>America wakes up to REE embargo threat, LYC critical for future supply plans</strong></li>
<li><strong>Nickel supply (primary and secondary) in structural deficit, fifth year in a row</strong></li>
<li>LME Nickel stocks declining rapidly</li>
<li><strong>Graphite Sector a SELL (both explorers and producers)</strong></li>
<li>Reiterate BUY on <a href="https://www.smartkarma.com/entities/gold-road-resources-ltd" target="_blank" data-smartkarma-citation="entities:6698:1" rel="noopener">Gold Road Resources (GOR AU)</a>
</li>
<li>Current Offer on <a href="https://www.smartkarma.com/entities/azumah-resources-ltd" target="_blank" data-smartkarma-citation="entities:5124:1" rel="noopener">Azumah Resources (AZM AU)</a> likely to fail</li>
<li>
<a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">Bhp Billiton (BHP AU)</a>, <a href="https://www.smartkarma.com/entities/fortescue-metals-group-ltd" target="_blank" data-smartkarma-citation="entities:41:1" rel="noopener">Fortescue Metals (FMG AU)</a>, <a href="https://www.smartkarma.com/entities/lynas-corp-ltd" target="_blank" data-smartkarma-citation="entities:20374:1" rel="noopener">Lynas Corp Ltd (LYC AU)</a>, <a href="https://www.smartkarma.com/entities/syrah-resources-ltd" target="_blank" data-smartkarma-citation="entities:1978:1" rel="noopener">Syrah Resources (SYR AU)</a>, <a href="https://www.smartkarma.com/entities/walkabout-resources-ltd" target="_blank" data-smartkarma-citation="entities:16753:1" rel="noopener">Walkabout Resources (WKT AU)</a>, <a href="https://www.smartkarma.com/entities/gold-road-resources-ltd" target="_blank" data-smartkarma-citation="entities:6698:1" rel="noopener">Gold Road Resources (GOR AU)</a>, <a href="https://www.smartkarma.com/entities/pensana-metals-ltd" target="_blank" data-smartkarma-citation="entities:2106:1" rel="noopener">Pensana Metals (PM8 AU)</a>, <a href="https://www.smartkarma.com/entities/peel-mining-ltd" target="_blank" data-smartkarma-citation="entities:4111:1" rel="noopener">Peel Mining Ltd (PEX AU)</a>, <a href="https://www.smartkarma.com/entities/azumah-resources-ltd" target="_blank" data-smartkarma-citation="entities:5124:1" rel="noopener">Azumah Resources (AZM AU)</a>, <a href="https://www.smartkarma.com/entities/st-george-mining-ltd" target="_blank" data-smartkarma-citation="entities:18642:1" rel="noopener">St George Mining (SGQ AU)</a>, <a href="https://www.smartkarma.com/entities/apollo-consolidated-ltd" target="_blank" data-smartkarma-citation="entities:10021:1" rel="noopener">Apollo Consolidated (AOP AU)</a>, <a href="https://www.smartkarma.com/entities/chesser-resources-ltd" target="_blank" data-smartkarma-citation="entities:1365:1" rel="noopener">Chesser Resources (CHZ AU)</a>, <a href="https://www.smartkarma.com/entities/musgrave-minerals-ltd" target="_blank" data-smartkarma-citation="entities:2564:1" rel="noopener">Musgrave Minerals (MGV AU)</a>, <a href="https://www.smartkarma.com/entities/stavely-minerals-ltd" target="_blank" data-smartkarma-citation="entities:20213:1" rel="noopener">Stavely Minerals (SVY AU)</a>, <a href="https://www.smartkarma.com/entities/classic-minerals-ltd" target="_blank" data-smartkarma-citation="entities:18945:1" rel="noopener">Classic Minerals (CLZ AU)</a>, <a href="https://www.smartkarma.com/entities/frontier-resources-ltd" target="_blank" data-smartkarma-citation="entities:3173:1" rel="noopener">Frontier Resources (FNT AU)</a>, <a href="https://www.smartkarma.com/entities/venus-metals-corp-ltd" target="_blank" data-smartkarma-citation="entities:10142:1" rel="noopener">Venus Metals Corp (VMC AU)</a>, <a href="https://www.smartkarma.com/entities/poseidon-nickel-ltd" target="_blank" data-smartkarma-citation="entities:12760:1" rel="noopener">Poseidon Nickel (POS AU)</a>, <a href="https://www.smartkarma.com/entities/alkane-resources-ltd" target="_blank" data-smartkarma-citation="entities:19111:1" rel="noopener">Alkane Resources (ALK AU)</a>, <a href="https://www.smartkarma.com/entities/rox-resources-ltd" target="_blank" data-smartkarma-citation="entities:18355:1" rel="noopener">Rox Resources (RXL AU)</a>, <a href="https://www.smartkarma.com/entities/bellevue-gold-ltd" target="_blank" data-smartkarma-citation="entities:2297:1" rel="noopener">Bellevue Gold (BGL AU)</a>, <a href="https://www.smartkarma.com/entities/calidus-resources-ltd" target="_blank" data-smartkarma-citation="entities:16023:1" rel="noopener">Calidus Resources (CAI AU)</a>, <a href="https://www.smartkarma.com/entities/bowen-coking-coal-ltd" target="_blank" data-smartkarma-citation="entities:17492:1" rel="noopener">Bowen Coking Coal (BCB AU)</a>, <a href="https://www.smartkarma.com/entities/hot-chili-ltd" target="_blank" data-smartkarma-citation="entities:11138:1" rel="noopener">Hot Chili Ltd (HCH AU)</a>, <a href="https://www.smartkarma.com/entities/ora-banda-mining-ltd" target="_blank" data-smartkarma-citation="entities:2970:1" rel="noopener">Ora Banda Mining (OBM AU)</a>, <a href="https://www.smartkarma.com/entities/blackstone-minerals-ltd" target="_blank" data-smartkarma-citation="entities:28181:1" rel="noopener">Blackstone Minerals Ltd (BSX AU)</a>, <a href="https://www.smartkarma.com/entities/spectrum-metals-ltd" target="_blank" data-smartkarma-citation="entities:2237:1" rel="noopener">Spectrum Metals (SPX AU)</a>, <a href="https://www.smartkarma.com/entities/alt-resources-ltd" target="_blank" data-smartkarma-citation="entities:28297:1" rel="noopener">ALT Resources Ltd (ARS AU)</a>, <a href="https://www.smartkarma.com/entities/mincor-resources-nl" target="_blank" data-smartkarma-citation="entities:6731:1" rel="noopener">Mincor Resources Nl (MCR AU)</a>, <a href="https://www.smartkarma.com/entities/great-western-exploration-limited" target="_blank" data-smartkarma-citation="entities:19901:1" rel="noopener">Great Western Exploration (GTE AU)</a>, <a href="https://www.smartkarma.com/entities/exore-resources-ltd" target="_blank" data-smartkarma-citation="entities:16357:1" rel="noopener">Exore Resources (ERX AU)</a>, <a href="https://www.smartkarma.com/entities/cora-gold-ltd" target="_blank" data-smartkarma-citation="entities:27988:1" rel="noopener">Cora Gold Ltd (CORA LN)</a>, <a href="https://www.smartkarma.com/entities/zyl-ltd" target="_blank" data-smartkarma-citation="entities:2971:1" rel="noopener">Hawkstone Mining (HWK AU)</a>, <a href="https://www.smartkarma.com/entities/bardoc-gold-ltd" target="_blank" data-smartkarma-citation="entities:4833:1" rel="noopener">Bardoc Gold (BDC AU)</a>, <a href="https://www.smartkarma.com/entities/apollo-consolidated-ltd" target="_blank" data-smartkarma-citation="entities:10021:1" rel="noopener">Apollo Consolidated (AOP AU)</a>, <a href="https://www.smartkarma.com/entities/carnaby-resources-ltd" target="_blank" data-smartkarma-citation="entities:4197:1" rel="noopener">Carnaby Resources (CNB AU)</a>, <a href="https://www.smartkarma.com/entities/hammer-metals-ltd" target="_blank" data-smartkarma-citation="entities:15503:1" rel="noopener">Hammer Metals (HMX AU)</a>, <a href="https://www.smartkarma.com/entities/tietto-minerals-ltd" target="_blank" data-smartkarma-citation="entities:28006:1" rel="noopener">Tietto Minerals Ltd (TIE AU)</a>, <a href="https://www.smartkarma.com/entities/atrum-coal-nl" target="_blank" data-smartkarma-citation="entities:9553:1" rel="noopener">Atrum Coal Nl (ATU AU)</a>, <a href="https://www.smartkarma.com/entities/de-grey-mining-ltd" target="_blank" data-smartkarma-citation="entities:6192:1" rel="noopener">De Grey Mining (DEG AU)</a> <a href="https://www.smartkarma.com/entities/azumah-resources-ltd" target="_blank" data-smartkarma-citation="entities:5124:1" rel="noopener"></a>
</li>
</ul>


Pure iron ore plays outperforming diversified producers, for now...
America wakes up to REE embargo threat, LYC critical for future supply plans
Nickel supply (primary and secondary) in structural deficit, fifth year in a row
LME Nickel stocks declining rapidly
Graphite Sector a SELL (both explorers and producers)
Reiterate BUY on Gold Road Resources (GOR AU)

Current Offer on Azumah Resources (AZM AU) likely to fail

Bhp Billiton (BHP AU), Fortescue Metals (FMG AU), Lynas Corp Ltd (LYC AU), Syrah Resources (SYR AU), Walkabout Resources (WKT AU), Gold Road Resources (GOR AU), Pensana Metals (PM8 AU), Peel Mining Ltd (PEX AU), Azumah Resources (AZM AU), St George Mining (SGQ AU), Apollo Consolidated (AOP AU), Chesser Resources (CHZ AU), Musgrave Minerals (MGV AU), Stavely Minerals (SVY AU), Classic Minerals (CLZ AU), Frontier Resources (FNT AU), Venus Metals Corp (VMC AU), Poseidon Nickel (POS AU), Alkane Resources (ALK AU), Rox Resources (RXL AU), Bellevue Gold (BGL AU), Calidus Resources (CAI AU), Bowen Coking Coal (BCB AU), Hot Chili Ltd (HCH AU), Ora Banda Mining (OBM AU), Blackstone Minerals Ltd (BSX AU), Spectrum Metals (SPX AU), ALT Resources Ltd (ARS AU), Mincor Resources Nl (MCR AU), Great Western Exploration (GTE AU), Exore Resources (ERX AU), Cora Gold Ltd (CORA LN), Hawkstone Mining (HWK AU), Bardoc Gold (BDC AU), Apollo Consolidated (AOP AU), Carnaby Resources (CNB AU), Hammer Metals (HMX AU), Tietto Minerals Ltd (TIE AU), Atrum Coal Nl (ATU AU), De Grey Mining (DEG AU) 



New J. Hutton – Exploration Report (Weeks Ending 04/10/19)

Australia

Poseidon Nickel Limited is a mineral exploration company focusing on nickel and gold exploration projects.

Price Gauge
52-week Range	0.00 - 0.00
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Poseidon Nickel (POS AU)

Poseidon Nickel Limited - Strong Fundamentals Underpinning Development Case(S)

Poseidon Nickel Limited Strong fundamentals underpinning development case(s) Poseidon Nickel Limited (ASX:POS) has been listed on the ASX-listed...

Research as a Service (RaaS)

New J. Hutton – Exploration Report (Weeks Ending 08/03/20) Abridged

COVID-19 disruption will last longer than many are forecasting China property sales very weak, as is its domestic rebar utilisation Gold Road...

Gaius King

New J. Hutton – Exploration Report (Weeks Ending 04/10/19)

Pure iron ore plays outperforming diversified producers, for now... America wakes up to REE embargo threat, LYC critical for future supply...

Gaius King

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)