APAC will have a plan and so far its playing out. Basical little opposition. The Tin is a really important asset and is important for the new and emerging industries eg EVs and AI.. At the moment they cant give Nifty away. They do however need to keep dressing it up The scoping study NPVs etc is good. More drilling is needed to improve tonnage. I think the dressing up is an attempt to get some interest whether JV or sale. There will likely come a point where commodity prices make it an attractive target for someone who knows Copper. I doubt the BOD have any real intention of raising $50 mill to restart Nifty on their own. Its a figure thrown out for a potential JV or outright purchaser. APAC want to oversee the process to protect their interests. Nifty all 'dolled up' could fetch a few $$ down the track. If you have bought your holding cheap the return could well be pretty good. APAC obviously knows the real value of the assets.
MLX Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held
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