You’re backing the jockey with CYM now as the horse is somewhat lame.
In saying that it could go either way for them. It’s clear they’ll take the open pit route as the quarterly stated MLX have stopped dewatering the underground. They’re going to have to mobilise equipment and pre-strip around 10-15mt of waste before seeing any ore/revenue. If you assume typical mining costs of A$4/t that’s not a cheap exercise and the article suggests a A$80m equity raise of which A$24m will find its way to MLX. Leaves little to play with. If they can get the tonnage up there’s a big prize to play for - copper prices are now considerably different to when MLX was struggling to restart the underground.
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