And they’re trading with valuations accordingly. Nifty is trading at less than zero.
The key with Nifty I think is getting the tonnage up to that 2.5-2.6mtpa so they’re not campaign milling and carrying large fixed costs. It’s hugely inefficient to run a mine at half capacity as they were. To increase UG production requires large capital development, but the resource is there.
If they bring costs down to A$90/t ore then it’s ~40kt Cu @ US$1.90/lb AISC. Below illustrates this and compares against to the last 3 quarters it operated.
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 (20min delay)
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Last
62.5¢ |
Change
-0.030(4.58%) |
Mkt cap ! $553.9M | |||
| Open | High | Low | Value | Volume |
| 66.0¢ | 66.0¢ | 61.0¢ | $2.280M | 3.628M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 86376 | 62.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 62.5¢ | 180867 | 5 |
View Market Depth
| Last trade - 16.21pm 25/07/2025 (20 minute delay) ? |
| MLX (ASX) Chart |