The big challenge here as you’ve touched on previously is the remoteness of the project and the challenges that poses - particularly in an ESG world that wants “green nickel”. OZL purchased the Nebo-Babel Ni/Cu sulphide deposit in West Musgrave - some 600km east of Wingellina a couple of years ago if I’m not mistaken - and put a fairly ambitious power solution forward (wind, solar, battery + diesel).
Truck and burning diesel is not only costly but likely not acceptable by a lot of investors now and extending the gas pipeline also costly. Still when you look at the deposit grades and quality - it sh1ts all over some of the alternatives - a 2mtpa HPAL with a ~200mt reserve base could be very feasible given the grades IF they can find that power solution. My thoughts only.
MLX Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
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