I don't have any problems with the purchase. From what I know of Cookie and Warren Hallam they are miners and gold miners down to their bootsstraps. Dead bullock soak and the Tanami made money for many years previous to this. What needs to be done is a careful evaluation and hedging pre- production. It is well known the Tanami holds lots of gold . The problem is price and profitable exploitation. If cookie could get gold out from 100's of metres deep at Hill 50 he should be able to do so here. what is happening is these guys are showing their ability for opportunistic buying. Warren intimated to me at the AGM they'd been looking for a while since the earlier purchases but the price of projects had gone up not to be attractive. Obviously this meets their hurdle requirements. One point to note is that with CMPG and Renison Expansion competing for funds they will hold off the final board approval till it's the best spend option.
MLX Price at posting:
$1.20 Sentiment: Hold Disclosure: Held
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