100K plus seems a b. long way to haul mined ore to a plant and this plant is too small for a tier 1 deposit anyway. Why would anyone walk away from a high grade copper deposit? There seems to be a halo of very to super high grade (by world standards) all around the bottom of Nifty. It will take deeper pockets to get at than MLX had just recently, and more drilling needs to be done to search it all out.
I think Arden at Bell Potter (Avtek) is about right, just now.
Even though it has been a tough gig up to now, Nifty is the real eal. Most spec mining explorers are about mining the poor old punters pockets not anything in the ground, for the benefit of directors and senior officers lifestyles, but this one is not quite in that category.
By the way, what is the second rarest thing of all in the mining pages of the AFR? Answer: An entry in the dividend column. The rarest of all? A big dividend.
MLX Price at posting:
9.6¢ Sentiment: None Disclosure: Held
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