“How much you reckon Nifty is worth Pant? “
I do not know. I could not work out the style of mineralization (never really looked to see how much work was published but must have been some done because I think WMC was involved in the early days) and, while they have some good drill core intersections, you need some info on that to put the whole ore body together. Comical that there is apparently a good, big plant sitting there with no ore to feed it! Always beware a mine with sequentially falling grades! Agree they should sell it ASAP and Wingelina.
The important issue for MLX is to keep Renison-Bell efficient. The mine is ideal for a small mining company. It has been producing for 100+ years and the grade has been sustained at 1.2 to 1.6 %. By my reckoning, current reserves are 80kt (+rentails 100kt), resources 250 kt (+ rentails ~100kt). Mining consumes ~ 8kt per year (MLX share 4kt). ASIC say US15,000, so, depending on price get return US4-5,000 per ton. They can make 16-20 million pretty much indefinitely BEFORE corporate costs as long as they can attend mine development issues.
MLX Price at posting:
7.0¢ Sentiment: Sell Disclosure: Not Held
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