Hard to reason with the current Val vs the JV partner. I think when they hit the high grade things will change and Renison be making 0.5-1x market cap in EBITDA at spot tin.
Obviously some geotech issues at Renison need to be overcome with the mine and some of those area5 resources don’t make it to reserves but f me Renison has to be worth minimum 3x current SP IMO. And nifty from all reports just needs a bit of capex to do the vent work to open up the new reserves. SFR has the team to do it and has a minelife left of 1-2years down the road (well it’s 700km down the road but it’s WA).. too cheap here
MLX Price at posting:
7.0¢ Sentiment: None Disclosure: Held
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