Ann: Nifty Reset Plan, page-46

Indeed CaptainBarnacles, it may well be that you'll run into Captain Hook sailing around your fantsay land haha.

You are right that the whole plan obviously hangs on leaving the CB behind and moving into virgin ground. Development costs increase and it all takes time but there is your opportunity to move from fantasy land to the promised land. I suppose the main point of researching the Nifty mine history was to see what could be reasonably expected based on what had been done before when the main, thick, high grade central part of the orebody was being mined. I don't see any great advances in u/g mining technology or methodology since 2008 so I doubt MLX can do better than ABY when things were at their best. My review tells me that MLX are shooting for better than ABY's best but they are hamstrung by an orebody getting lower grade over time, and deeper, hotter etc which all adds to costs. In conjunction with MLX's recent history, I simply don't trust their forecasts and don't like their chances of mining perfection Qtr after Qtr to pull the forecast off.

What choice do they really have but to try? The costs of closing down, paying out creditors, going into c&m, various guarantees and long term contracts to honour then what little cash they have will be gone in a blink and back to the market for another raise. They have staked a lot on this mine and are so pregnant with funds sunk that head down and forward seems their only course of action. Fingers crossed the AUD copper price rises instead of falls. I like Renison, just not comfortable with how much Nifty may drag the share price under and don't see much upside in the price until the Nifty RMP proves itself which is at least 12 months away.

good luck