There was talk that Collerina ore could be trucked north to Tritton for processing, if there wasn’t enough scale for us to build our own plant.
Looking at the map in the latest HLX preparation, it’s far closer to truck ore to AMI’s Hera mill, both ‘as the crow flies’ and maybe more importantly, via the existing road network.
Sure, some modifications might be required, but Collerina must be looking attractive to AMI, as well as Cobar gold (near AMI’s newly acquired Peak mill). Peak has a mine life of around 4 years, and Nymagee should add another 4 years. Not sure if they have scope to push more ore through the Hera mill or not.
After a big operational turnaround, AMI is sitting on $67m cash, and should materially add to that cash pile over the next few months as they process some very high grade ore.
I was originally thinking Cobar gold might have been the main interest for AMI, but am now thinking they’d probably be interested in taking all of HLX, especially if HLX’s market cap doesn’t get a re-rate.
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