From my recollection the projects are about 600km away, the musgrave area is large. The issue out there is the lack of infrastructure...which means billion dollar capex bills for the likes of wingellina.
I don’t think anything OZL/CZI do with their project will provide any benefit to the viability of Wingellina. Even if they build a gas pipeline out there it’s still going to be hugely expensive to link up to for Wingellina.
The project needs big pockets, Jinchuan were to buy 20% for A$50m in 2011 I believe but opted to take a shareholding at the company level (MLX) rather than project level. The best solution in my mind is Jinchuan purchase the project from MLX and develop it themselves, it needs US$20k/t Ni prices to justify the capex IMO but this may not be all that far away...
MLX Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held
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