My take on the quarterly is MLX management is doing the small,...

My take on the quarterly is MLX management is doing the small, hard but important things to position the mine going forward with judicious capital spend. (Filling hollow logs from an accounting perspective for when the Sn price is weaker). They are also getting in place, float circuit upgrades and tailings dam cleanup, which have the dual role of making the current mien more efficient and Rentails more likely cost-effective.

It's resulting in slightly higher ASC but is the opposite of the lazy capital-lite way Nifty was operated that killed them (and nearly us). they are also going hell for leather on production into the high Sn price.

Good on them.

All IMVHO.