Hegarty founded Oxiana and together with his team built the business to a $5bn company. From memory the Zinifex merger led to the unravelling of the merged company. Michelmore was installed as the CEO of the merged entity. Debt and low zinc prices resulted in the company being placed in administration. China Minmetal acquired the assets of Zinifex minus Prominent Hill. PH was too close to the Woomera defence area (RAAF) and was deemed a security risk. OZL was formed from there, by acquiring PH. Hegarty then set up G Resources and developed a gold mine in Indonesia, through another vehicle set up a metalurgical coal mine on the east coast of Russia. Pretty sure this company is listed in Australia. You are probably right, would need higher copper prices to get Nifty working or a significant discovery within trucking distance.
MLX Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
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