Yeah these turnaround stories take a while to get going,...

Yeah these turnaround stories take a while to get going, sometimes even longer than the actual turnaround at the mine site! The thing that struck me about reading the Briget Carter article was the latent capacity of all the mills in the Cobar region all chasing the fairly few new/available tonnes that have been discovered due to the long-term underinvestment in base metals exploration in general and especially in the Cobar basin. Just got to be a logical meeting of those with overpriced scrip and hungry mills (i.e. MAC) with any number of various miners with cheap scrip and available ore and mills (i.e. AIS AMI KSN POL) and others with a lot of stranded tonnes without a mill (i.e. PEX).

Right now I'd prefer to own an existing mill that isn't fully utilized, rather than stranded tonnes in the ground too far away from a mill to be trucked, but as metal prices improve further though the people who do have the exploration tonnes in the ground will start to have the upper hand, especially if they can discover tonnes close enough to more than one mill to create competitive tension for those tonnes (either by corporate action or by toll milling). As far as targets go - AMI is a clear underpriced and underappreciated target with Federation coming online they look a whole lot better than AIS and KSN who have their own issues.