Latest Research Metro Mining (MMI) - Low Complexity, High Margin...

Latest Research

Metro Mining (MMI) - Low Complexity, High Margin Bauxite

Created on Wednesday, 03 June 2015 09:43

Metro Mining (MMI) is developing the Bauxite Hills project in the Cape York Peninsula, QLD, Australia. This bauxite project ticks a lot of boxes with low development capex, high operating margins, long life, low complexity and near term development potential. Bauxite Hills stands to benefit from growing seaborne demand driven by Indonesian and Vietnamese export bans and declining domestic Resources in China. Located close to Rio Tinto’s Weipa project, the project can leverage off the Cape York bauxite brand and has the advantage of being a short distance to China, the target market. Argonaut assigns a SPEC BUY recommendation and $0.25 target price, with a view that MMI offers high margin, low sovereign risk exposure to bauxite.

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