Poseidon Nickel is an interesting emerging resource play for a couple of important reasons. Firstly, it's building towards production status by way of the recommissioning of its historic Windarra nickel project in Western Australia, along with a series of important new nickel project acquisitions from Russia’s Norilsk, which provide Poseidon with potentially diverse sources of production. The second key attraction is in the lithium space, where the company is assessing its Lake Johnston acreage for potential lithium mineralisation. It has been spurred on by fellow junior Kidman Resources (ASX: KDR), which has reported high-grade lithium on its acreage only previously explored for gold - its Mt Holland gold project. At the same time Poseidon has entered into a Memorandum of Understanding (MOU) with Kidman to process Mt Holland spodumene lithium-hosted pegmatites at its Lake Johnston processing plant, potentially making it the first hard-rock lithium producer in the Lake Johnston region. The key of course is that Poseidon's processing plant is capable of co-processing ores and independently operating parallel circuits - meaning it could treat both nickel and lithium ores simultaneously.