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POS - Poseidon Nickel

Discussion in 'Stocks I-P' started by exgeo, Aug 9, 2007.

  1. exgeo

    exgeo

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    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- https://www.aussiestockforums.com/forums/showthread.php?t=3873
     
  2. Synergy

    Synergy

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    Just came accross this stock randomly. Price seems to have stayed low compared to the rest of the market. Pretty stable too.

    Any reason for it not rebounding with the rest of the market?
     
  3. Whiskers

    Whiskers It's a small world

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    Hi Synergy

    Firstly, I presume you know it was previously Niagara Mining and had a one for two consilidation a couple of months ago.

    I was in this one last year, but got out in frustration just before the 'Twiggy Forest' announcement :banghead: when the price started skyrocketing. :eek:

    Basicly, the bum fell out of the price of nickel. As I understand it they made some quite significant profit forcasts based on high nickel prices. Since then the price of nickel has come way down and their cost of production is relatively high and things still seem to be progressing fairly slowly after the hype, or was that hope, that Twiggy would get things moving.

    I expect that unless something dramatic occurs either at Windara or Ghana the price will probably trend lower.

    There is also the question of the board withdrawing from the previously announced Nickel marketing agreement with FSG and whether Twiggy can make a significant contribution considering his commitments to FSG. I'm not looking to rush back into it yet.
     
  4. Miner

    Miner

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    Twiggy got options for 40 cents when the NIA shares were at about $2. Then the consolidation and share price really came to half.
    Now Twiggy is to exercise his options in a month ?
    He has few choices.
    One wild choice is to sell FMG shares to Russians and Chinese. Will probably
    Invest back in POS and jack the market. He is good at that trick but never been successful in producing metals. So if I am a punter I will buy POS keeping my emotions in bank.

    Regards
     
  5. Miner

    Miner

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    Woh

    Looks like no one reads this forum on Pos. Good thoughts.
    Any way who are reading this please visit my posting on FMG
    and visit http://asx.com.au/asx/statistics/an...rchByCode&releasedDuringCode=W&issuerCode=POS
    Twiggy has exercised his options at the last moment.
    Gosh what would he has done if Fed did not cut interest rate ?
    That far sight as an investor makes him billionaire - he has guts and takes risks. Others talk.
    Nickel price has jumped by 10%. Hopefully my dud in NIA would be able to reduce some losses since the prices were half.
    Unconfirmed report POS management is trying to start some of the Windowra (can not spell it) mine. But do not expect more. Pretty poor management otherwise there would be some announcement or price increase.

    Regards

    Miner
    20 Sept 07
     
  6. Taurisk

    Taurisk

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    Hello Miner

    I, too, hold Poseidon shares (and must admit made some money on their initial steep rise when they were still called Niagara and Andrew Forrest first became involved, but bought into them again ....). I have watched my holding melt away and read anything I can find on them - nothing much happening, as you have observed.

    I think Twiggy's latest move might give them some publicity but on a practical level I can't see any immediate benefit. Mr Forrest, indeed, gifted those options that in my view were intended as a performance reward, but maybe I'm naive. Now he's got himself some publicity and a tax benefit as well.

    Here is the full story:

    http://www.theaustralian.news.com.au/story/0,25197,22455098-5005200,00.html

    Cheers

    Taurisk
     
  7. tony montana

    tony montana

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    ok to cut along story short whats good about pos.....in so many words people if you dont mind that is.....been dropping for ages and are very cheap at the moment might be a good time to buy in.
    i will read everything i can on them but sometimes people in these forums can tell you more
     
  8. Aargh!

    Aargh!

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    Last 1.150 Change 0.240 +26.37% Open 0.920 High 1.170 Low 0.905 Vol 2,210,435
    Anyone know why this is running?
     
  9. Da Cat

    Da Cat

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    refer announcement on 26th sept 2007:

    "A diamond drill rig (Boart Longyear LF230) started work on Friday 14th as planned and has already completed 2 holes which have intersected and confirmed significant Nickel zones and is currently drilling its third hole. Poseidon’s initial objective is to expand and bring to reserve status enough ore for the first 12-18 months of the production phase. The drilling activity is necessary to fully delineate the near surface ore bodies which have been identified previously. The company expects that this phase of the drilling will be completed in the next few weeks and if successful will provide confidence to initiate the construction project next year."

    maybe assays results are to be announced??...
     
  10. daaussie

    daaussie

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    I have watched POS just jump from 90 cents to $1.17, no retrace.
    Something is up.
    We will have to wait and see
     
  11. adobee

    adobee

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    POS is up to $1.35 now.. I got on earlier this morning as I was intrigued by the action and suspect something is forthcoming.. I will either reap the rewards or suffer the consequences later.. If there is not a substanital announcement in the next couple of days I think that this is being manipulated.. I am sure I read Twiggy bought another $500k + last week increasing his holdings..
     
  12. tvhead

    tvhead

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    i hope you ended up buying them tony, cause if you didnt you will be kicking yourself now, even if no one reply to your comments:banghead:
     
  13. roland

    roland

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    POS is off again. Dumb old me wtached it yesterday thinking, I missed the boat - now it's up another 12%
     
  14. adobee

    adobee

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    I was stressing a bit this morning cause I paid a premium yesterday.. I guess no one believes the response to the speeding ticket.. Look like its all go with market down too....
     
  15. tony montana

    tony montana

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    So I take it that you bought in then did you ....tvhead.....so how many did you buy or is it another one that got away?
     
  16. Aargh!

    Aargh!

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    Just noticed this morning that there's an obvious mistake in the bidding line-up. There's an order for 2,000 shares @ $1,245.00. A sure mistake @ $1.245 but what happens with this order? Will it go through to the benefit to some happy seller???
     
  17. Kowabunga

    Kowabunga

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    What are peoples thoughts on the price action in the last week? Specially from weds onwards. Took a massive dive on Thursday but regained in the last hrs (hammer time!). Rallied hard on Friday - any news? Any reasons? Ppl saw oversold opportunity? PPl who sold out on thursday getting back in?? Both which snow balled into a really strong rally??

    I sold out on thursday :mad:
     
  18. michael_selway

    michael_selway Coal & Phosphate, thats it!

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    "What are peoples thoughts on the price action in the last week? Specially from weds onwards. Took a massive dive on Thursday but regained in the last hrs (hammer time!). Rallied hard on Friday - any news? Any reasons? Ppl saw oversold opportunity? PPl who sold out on thursday getting back in?? Both which snow balled into a really strong rally??

    I sold out on thursday :mad"

    Does this company have any Reserves yet?

    thx

    MS

     
  19. Lucky_Country

    Lucky_Country Formerly known as ijh

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    POS - Posideon Nickel Limited

    Twiggys latest venture seems too be gathering steam.
    Seems he has big ambitions for Ni with a great team put together and donation of his options too his charity.
    FMG should be up and running soon then his focus will shift towards POS
     
  20. Lucky_Country

    Lucky_Country Formerly known as ijh

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    Announcement out POS hits mass sulphide deposit !
    Twiggys starting to focus on POS now FMG is almost there news to come thick and fast.
     
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