Yeah look I get that people want a return and that capital management is important etc. I also agree doing nothing with the cash is inefficient at this point.
On the flip side I am not sure when all resource investors seemed to become boomers. If I wanted to buy yield plays I wouldn't be buying resource shitcos to be honest. But that is just me.
Taronga has a reasonable IRR. They can probably develop it (if got a reasonable debt/equity split) and still do capital returns depending on what the outcome of rentails is.
Everyone seems to want all management to never pursue any growth anymore though and I think that's just not a realistic view
MLX Price at posting:
41.3¢ Sentiment: Buy Disclosure: Held
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