Hate to rain on your parade again as you post logically and provide good backup, however have a look at the Supply/Demand graph in MLM's presentation :
It would appear according to this graph, that with the New Projects like Sheffields coming on line, that supply will exceed demand until about 2024 following which those long term price predictions may come into play. That means the first 6 years of Goondicums mine life of only 9 years will be a time of price pressure. Given that Ilmenite is generally a by product of the much more valuable Rutile and Zircon (which Goondicum doesn't have) the big boys will likely dump their Ilmenite at whatever price they can get. Not such a rosy picture for Goondicum !!
Couple that with Goondicum having to deal with approximately 50% slimes compared with the usual 5 - 15% and the risk V potential reward scenario seems like a no brainer decision to me (IMHO). Give the merger a miss Metallica.
Cheers - Surfydad
MLM Price at posting:
4.2¢ Sentiment: Hold Disclosure: Held
