I wouldn’t be drawing the conclusion that MLX is prepared to wait for IGO to do some exploration. They’ll try and knock this over ASAP which is fairly clear in APACs wordings, I’m still unsure why people think these things take a couple of weeks.
I think there’s a few potential players here - IGO and SFR are both WA based base metal miners with flagship mines that are fast becoming depleted. I think a PE firm such as EMR capital is a contender here too.. you’ll recall that around the time MLX acquired Nifty from Birla in 2015 EMR and Lighthouse Minerals (Now Capricorn Copper) bought Birla’s other Cu mine in Gun Powder / Mt Gordon (which is smaller size and lower quality and needed $150m of capex sunk into it). They effectively bought it for $5m but it required $150m working capital to restart. Nifty whilst needing some capital sunk to open up new mining areas should still be a fraction of the restart cost of GunPowder. Also in late 2015 Cu was trading at ~US$2/lb.
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