The company name was changed on July 6th 2007 from Niagara Mining NIA to Poseidon, POS. Please refer to the NIA thread for historical information about the company. The company has 152m ordinary shares, and 16m partly-paid shares and options of various dates. Undiluted market cap is A$150m at the current share price (A$1.00). This seems a tad expensive given that Mincor MCR is currently capped at around A$600m and is in production, producing around 16KT nickel/year.
Windarra Underground POS cannot re-enter the Windarra underground until at least Oct 2007. They are currently awaiting approval to dewater the decline. No date has been given for a restart of production although presumably this must be the aim eventually.
South Windarra heap leach project is currently being grade-control drilled, and a go-ahead will be given if a sub $5.00/lb nickel operating cost looks within reach. Laboratory work is ongoing to test this out.
mod note- prior discussion on NIA can be found here- http://www.aussiestockforums.com/for...ead.php?t=3873