Yeah huge coal resource with NO CHANCE this decade to mine it at...

Yeah huge coal resource with NO CHANCE this decade to mine it at a profit. Zero infrastructure at Bundi. Bundi may only be mined when Glencore decide to pull the trigger on Wandoan. They need to spend a few hundred million on building 100's of km railway from the Surat to Gladstone. Oh and they need circa $1 billion to develop the mine. For Columboola project with SinoCoal I can tell you there is no capacity into Brisbane Port. New Hope and others have all of that.
Forget the coal resource, it's actually a liability for years to come as they need to spend a few million dollars over this time to keep the tenements in good standing. That's a drain on cashflow given the long term outlook for coal.
As for the bauxite, in this resources market, $30m CAPEX is a big ask and of course the PFS sounds great but I will bet anything by the time they go to BFS or even close to a mining activity, bauxite will be plentiful and the price will not be at today's levels. Therefore, I believe buying into MMI is a waste of time unless you love to trade it but quite frankly it's been very illiquid trading stock for years and will for years to come.
In my opinion, the recent major shareholders that bought MLM's holding and board members have bought themselves some salaries and perks for the next year or so. Why didn't Xinfa buy some - was circa 3 cents too cheap. It is all very funny when you have Xinfa and DADI that were not part of the MLM transaction.
Tells me, they had no choice but to accept the merger/takeover of MTE/CBX. MLM's holding was chicken feed to DADI, they could've taken it over for a song but they didn't. Same goes for Xinfa.
Only chance for MMI is if the Board has the right connections to get money in from a JV partner. Something tells me that they don't have the relationships to do this but of course I could be wrong but I doubt it. LOL.