IMO
No. Forget Tasmania
MMI has location advantage Weipa - and expansion tenements .
There's no point in leverage a lower cap if it's multiplied by zero at the end .
I.e - back the play that is going to move ahead into real cash flow cow . Not an excuse list .
It's all about offtake into the bauxite market .
Contemplate that you are the Chinese client - and the market softens - you want the supplier whose logistics give them the advantage to keep operating at lower prices .
ABX would be still trying secondary markets like fertiliser .
Who do you cement a relationship with ?
Further the upside on MMI with no further dilution - small capex debt funding in process offers many bags.
Both MMI and ABX have been around a while . Who is moving ahead and who is making excuses .
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