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MYL mallee resources limited

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Avebury Site Visit, page-6

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ozbucheron

1,673 Posts.

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05/09/22

10:22

Post #: 63517287
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Originally posted by vespasian03: ↑

Nice post indeed..especially from someone who has actually been to Avebury (which leads me to think you may have a few more shares than I)

The deposit " will attract a lot of attention, and at some point likely a price premium on the product as well."

Yes this mine, its already known reserves and the holdings around it will certainly be attracting attention from entities more interested in buying the mine rather than just the output. Seems logical to me.

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Originally posted by Richard1973: ↑

So, I’m not sure in retrospect whether it was good or bad timing, but I had an opportunity to visit Avebury Mine on 31 August. A few observations in case they are useful:

— There was a huge amount of activity on site, both employees and contractors, ahead of imminent recommissioning. It seems that’s on track for mid-September. A lot of energy, focus and optimism about the restart from everyone I talked to.

— The site is being readied for operations - lots of road base being laid, rollers and grader in action around the site, and so on. In the process shed, the crushers and mill are being test run. Advanced digital control room has been installed, which looks quite impressive.

— Although the issues with the Myanmar cash and the CR were of course known to management at the time (and the announcement on the former dropped while I was on site), it was still clearly all systems go. My personal takeaway from this is that management doesn’t see these issues as fatal and has alternate options. As I say, just my personal conclusion and view.

— As others have said before, with the power to site being 100% renewable (all of Tasmania’s electricity is), and the mine a good candidate for decarbonisation of operations, Avebury will likely be the only global source of green nickel for some years to come. That will attract a lot of attention, and at some point likely a price premium on the product as well.

So despite the recent bad news, I remain optimistic that Avebury will be a success, and that shareholders will be rewarded in time.

Usual caveats apply and DYOR.

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There are no reserves, only resources.

Despite the resources being well defined and nickel production to begin, we are told, in the very near term, there is no plan in the public domain.

There is not even a scoping study on restarting Avebury at 0.9Mtpa. If it's a lay-down misere, lay them down!

There is action on site so there is probably a plan. What is its duration?

MYL Price at posting: 70.0¢ Sentiment: Hold Disclosure: Held
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Avebury Site Visit, page-6

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