Considering the mine life that the previous owners left it with...

Considering the mine life that the previous owners left it with (closed) and the timing and price of the MLX acquisition of Nifty this has turned out to be a typically clever acquisition and transaction for MLX. I think we are now in the "orphan" period where share price does not move irrespective of what is announced, this will change in the future with decent Cu miners, we have just been through that process with Zn miners where the market was effectively in denial about the looming supply crunch with Zn, now that denial is in full retreat with near-term Zn producers being re-rated.

I think the same thing will be happening in Cu - there is no "easy" Cu to be found anywhere - no-one has been looking for it and the metal we do know about is all locked up in politically unstable juristictions (i.e. DRC/Indonesia), subject to other labour dispute supply shocks (i.e. Chile and Peru) or high cost marginal mines that are rapidly depleting/depleted in first world juristictions (i.e. Canada and Australia).

Its time for copper to shine and MLX have made a very smart deal and then done the work to set them up at Nifty for at least 7 years of production in a high metal price environment. Its almost a lay-down misere that they will be able to get more than 7 years life out of the orebody. Under promising and over-delivering is the norm for MLX.