> Given MLX's excellent strategic moves in picking up assets on the cheap, is there value in adding RNI to that list? There would be some decent synergies imo.
I agree that there would be some interesting synergies, and some mutual gains.
* RNI has an existing plant at Grosvenor, 2 million+ ounces of gold, the dominant holding of the juiciest tenements in the Bryah Basin, considerable upside exposure to copper at Forrest etc. RNI is also fortunate not to have sold forward its gold holdings at AUD1400 , so it can do so at $1600 ... so they will see the full benefit of the AUD gold increase. RNI could potentially be worth more than MLX in the not too distant future.
* MLX has all important cash, discipline and experience.
It's a good combo with mutual gains available.
But RNI is not for sale; nor will it be. The best that MLX could hope for is a joint venture. Even then, I suspect there are other interested players around. NST is also ramping up in the Bryah Basin; IGO is spending millions on the ALY tenements. So - yes - I agree that there are mutual gains from trade worth exploring here, but your sentiments seem hopeful, and it's not clear to me that MLX will make it to the altar.
MLX Price at posting:
$1.21 Sentiment: None Disclosure: Not Held
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