Yes I had a small holding of MLX only for Rennison Tin exposure, and thought they were insane to try to restart it, and was proven correct, check the MLX threads. I did think that maybe CYM possibly had a better chance of restarting Nifty and have an incredibly small holding remaining, after numerous delays and capital raisings. It's so trivial that its just a good learning exercise for me, but probably a more painful lesson to others.
I'm aware of the history of Nifty from the WMC/Straits/Aditya Birla/MLX and now CYM. It was a great orebody ruined by numerous owners over the years who never mined it properly/high-graded it, took shortcuts and probably were always busy fighting fires to plan and operate it well as a long-term proposition.
Any company will be limited by the infrastructure and footprint of what is already there and its a challenging operational problem-child of a mine that might get rectified one day and may make money in a sustained high Cu price environment. Lots of issues to resolve from the relocation of a sh*t load of SX-EW Oxide ore material to cutbacks to access additional oxide, and then maybe sulfides down the track, all the while working around the obvious geotechnical issues of open pit mining near underground workings, amongst other challenges. This is not a straight-forward greenfields startup, it's a brown-fields/rehabilitation nightmare, an orebody that's had all the easy-to-access and high-grade bits extracted already, and where literally all the infrastructure is either falling apart, requiring capex, or in the wrong place due to previous owners. And that's putting aside any finance issues to get this thing back into production, surely most would admit that getting finance for this operation at today's metal prices and input costs would be challenging.
I agree with that part of
@growler1969 post that I'm also a copper bull, but the problem with being "too early" appears exactly the same as being wrong.....
