Snakey look at the presentation. Given MMG put the site on C&M...

Snakey look at the presentation. Given MMG put the site on C&M when zinc price was $1700-1800 you would assume that the thought process for divestment was then or even well before.

I have it on good authority that MMG didn't mandate an IB for sale and the internal process had several smaller companies like AML and RVR plus a few other phosphate companies who wanted the infrastructure rather than the zinc. MMG deliberated long and hard about the sale given the Chinese testwork done at CRIMM and verified ALS in the face of the rapidly rising zinc price. Also my broker tells me a number of fundies in Melbourne have spoken with their ex CEO to confirm the reasons for sale. Feedback is very positive for NCZ shareholders. Big companies are slow moving beasts and them changing their mind amwould be the same as turning around the titanic.

MMG also sold Golden Grove for a song at the same time and all reports are that project is flying especially at current prices.

We have all seen a number of majors do stupid things. NST has made a $3B company by buying unloved assets off majors. It's all about timing.