I've had a read through some of the documentation including past media articles, and - amongst the dust and the cobwebs - were some hazy memories from many years ago.
In the nickel run up before Allegiance was taken over, I held small holdings in IGO, PAN (Sally Malay), MCR and Allegiance plus a few nickel producer wannabees. It was a wonderful time to be a shareholder in the nickel juniors, even if I was only a small shareholder. It was a time for some spectacular gains...
From what I can recall, I think Allegiance's market cap was in the $250m-$300m range until the sector really started cooking and I believe it reached $700m or so with the takeover.
That provides some indication of what the potential upside is here. The nickel deposit is still there, and there is plenty of exploration potential. Execution of the mine plan will be key. However, with nickel prices as high as they are, and nickel sulphides being in such demand (and short supply)...that provides a lot more room to navigate restart and teething issues.
Rosco
MYL Price at posting:
70.0¢ Sentiment: Buy Disclosure: Held
