Renison:
No tin price improvement required to become profitable. Renison is already a cash machine. If tin prices appreciate (chances are good because tin stocks and reserves are low worldwide), all the better.
Nifty:
When MLX bought the mine it was not running at full capacity. The plan of MLX was always to double Cu production at Nifty (from 20kta to 40kta) with just some more operational cost. They work towards that goal since about two years. Yes, it's still 20kta today. That is disappointing. But mill, infrastructure and staffing are now essentially ready for 40kta. I think they will get there over time with, say, 66% of todays AISC. If the plan succeeds this will make Nifty into a second cash cow. Even at current Cu prices.
Wingellina:
Don't forget that one. It's one of the very best Ni Co deposits in Australia (large and high grade).
MLX Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
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