Sorry about that cashmeoutside. Bit of a brain fade. Yes I was...

Sorry about that cashmeoutside. Bit of a brain fade.

Yes I was talking about SFR. Could work for them with work force relocation but perhaps grade is a little low with no gold credit. Local and regional blue sky could make it attractive.

I thought MLX could make Nifty work with their expertise in narrow vein mining at Renison but alas the trade war screwed them. Perhaps the copper price needs to be a lot higher to make good money out of Nifty.

I am significantly in the red with MLX along with many others and I kick myself for not bailing when they took on Nifty. I looked at what they had done in the past rather than how difficult it would be to take on a old mine and make money out of AUD $ 135 tonne dirt.

ADT dirt is currently $765 a tonne in the ground, open in all directions and probably amenable to bulk mining techniques. It could take serious money to take over ADT and get the operation off the ground. I see SFR pretty focused on ADT at present which appears to be potentially a cash cow like Degrussa. Perhaps they will attempt to take over ADT and come second after a bigger player and will make serious cash out of the deal and looking for a home for it.

WRM Alaskan dirt is worth AUD $318 a tonne in the ground at today's metal prices.They can pick up WRM pretty cheaply with with 16.7mt at 8.9% ZnEq and a small open pit gold resource in NSW. As you are probably aware SFR currently holds significant positions in both ADT and WRM.

Personally I have an investment allergy to Africa.

I cannot see IGO being interested but who know. We are in that part of the metal price cycle were little fish are gobbled up by bigger fish.

I am a retired exploration geologist who has never dug a hole in the ground. My knowledge of valuing a mining mining operation is limited to what you expect to flog the recovered metal for less what it costs you to mine and recover that metal.

I also have the view that mining is not an easy business and you have to have your act together to make it work. Even though Nifty came unstuck and I have dropped a heap on MLX, I do not blame the on site operators, they tried. The original decision to go with this grade in this type of mining operation was perhaps wrong and is perhaps still wrong even with a better copper price.