Well whatever your opinion about MLX management and what APAC...

Well whatever your opinion about MLX management and what APAC and L1 Capital are up to if you believe the efficient market hypothesis it looks like the market is coming to rest on a current valuation of MLX. Doesn't matter if you think the predators want to break up MLX into bits worth more than the combined MLX or if they are just like any shareholder who are underwater and want a look under the hood. APAC seem more activist but the appearance of L1 is rightly pointed out by others as maybe being more opportunistic.

This certainly hasn't played out the way I expected with the news of MLX management and board now in open battle with a major activist shareholder, and all in battle over a stake in a profitable Tin Mine and a money consuming money pit that is Nifty. Something which you would have expected to trash the share price but recent developments seem to have reversed a long drift downward of the MLX share price. We shall see if today's movement is sustainable, or if this is just a new "floor" underneath the share price and if its

Can't cleanly put a comprehensive "value" on the component parts, but might be something like this:

Value of Nifty (open) = $ -300M
Value of Nifty (closed or on C&M) = $ 0M
Value of Renison Tin stake = $ 165M
Value of other Ni odds and sods = $2 M ?

Nothing to do but wait until the vote is in, and depending on if resolution 6 gets up or not, see what APAC's next play is?

I'm dubious about any speculation that SFR would be interested in Nifty, if I were SFR I would be waiting for MLX to go under and buying any prospective ground or even Nifty itself from the administrators, rather than a corporate takeover game for control of MLX where they would be paying for control and buying such a non-core asset in the share of the Tin Mine.

Putting all the corporate maneuvering aside for the moment, what are poeples opinions about the Nifty turnaround? Are these the same guys whom turned around Renison or not? And can they succeed or is Nifty a basket case?

One thing I think we can all agree on is that the poor performance of MLX management and the Nifty Operation has punished the share price even more than other base metal miners and that has possibly put the company in play for all sorts of opportunistic possibilities.