Full monies received from what was probably fairly seen as a dead duck. Who would have expected one cent from Myanmar? We were fighting the military and their backers. Baldwin was basically stolen but the thieves got guilty it seems. The pub test would have told us no money would ever be recovered but the evidence is now there for all to see
What then? The nickel price is rising and rising and should continue. A bit of luck there but we all need a bit of luck now and then.
Where to spend the money? A functional nickel mine in Tasmania (no sovereign risk and loyal and experienced Tassie workforce). No fly by night FIFO's in Zeehan I reckon.
Who runs the place? JL broke out of jail with the loot and he is back in his home patch. Unreal.
Think about it - if you were to predict this last year you would be laughed at. My experience in markets tells me big shock losses are rarely recovered. Usually the underlying events behind the shock trumps amy possibility of recoup.
No political risk anymore - demand for nickel should rise - experienced and local management - golobal events pointing to a price squeeze in medium/long trem - JL has a project he will be determined to make a success.
I would rarely buy into a re-listed traumatised stock but this is different. I have never seem this conflunce of positives before in the market for what was surely a beaten docket.
Of course lets not get too confident but you would have to err on the confident side. Lets hope the pen pushers at ASX dont start getting pedantic.
Go Myammar Metals - oops Mallee Resources (MYL) - tell the finance world this story...
MYL Price at posting:
70.0¢ Sentiment: Hold Disclosure: Held
