I think there is a lot of scare mongering relative to Nifty. They had a $64.2mil impairment loss(note 39 - AR2019) on the old mine which has zero production future combined with a $40.5mil capital investment developing new mining areas around the old mine(Operations Update). This in my view is what makes the financials a little negative coming across as a cost blowout but from another perspective their Reset Plan took place at a time when copper prices are flat, this also drives the necessity for efficiency's in production which in turn keep the mine operational and avoid care and maintenance closure. It is paramount to have an operational mine in my opinion as Australia is competing in a developing global mining market with cheaper labour than ours. I hope MLX stays as it is (no TO) and the Board politics sorts itself out as I think MLX is positioned well for future upscale.
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