Question. Why did MLX make an opportunistic bid for "shitco" Heemskirk a few years back ? Did they do any due diligence at the time ?? It would be nice to ask management on this decision & whether this was under the old brigade or Brett ?? I also remember when I first invested in MLX - it was under the Nifty closure debacle & things could of got a lot worse. Luckily good management & a good project saved us.
@Cashmeoutside You have never explained why Stellar is a POS. You are normally very informative & your posts are welcome. Question. I cannot find any reported metwork or drill intercepts to date. Has project been renamed ? Can you point me in the right direction ? The other question is why is autonomy not a goal ? If a seismic event occurs or an issue with the current partner happens, it could spell trouble for this company. Ringrose could be a possibility as you infer? It appears to me it is a explorative stage & possibly a fair way to production if it is successful. The met work could be an issue if it has not occurred at this point. I do know the mineralisation at Renison & Heemskirk have the same metallurgical qualities & it the probability that Ringrose is the same is category. The concern at nearby St Dizier is that recovery rates are only 60%. I do hope we have grades of +1/2% at least but time will tell.
I do hold SRZ & hopefully will see the project have its day in the sun ???. They lack the money to go hard at their tenements & do have to be very frugal with their budget (possibly in survival mode??). Same metallurgy, don't have possible Tarkine type issues, valid mining licence, mineralisation still open at points & possibly a deep source which was also identified by Aberfoyle & Stellar. Once the latest updated study is released, we might have better facts on the economics of the project. Been a bit of a board reshuffle lately & the well credentialled Andrew Boyd has come to the fray (geophysicist with his own consultancy). The old team of Taylor & Boyd come to play & hopefully they can initiate improved shareholder value (they have been successful in the past: Oklo Resources and Papillon Resources, which were acquired by B2Gold in 2022 and 2014 for ~A$90M and ~$A520M respectively, and Mantra Resources, acquired by ARMZ in 2011 for ~A$1 billion). I hope this project is not snapped up by MLX & it stands on its own accord (100% Australian project providing jobs for the the area - especially after Avebury).
Anyway getting back to MLX. Love the bank balance & Renison (what a deposit its been). I do hope that Ringrose is all that you hope it is for all of us investors. I just would like to further add that management do appear in my eyes to have been enjoying the successful lifestyle mode over the past several years. Maybe it’s the Nifty effect ??, controlled by larger entities ?? or just complacent to collect a wage & not upset the apple cart. Would also like to see a
current presentation with some vision & a lot more exploration information.
This is all in my opinion of course !
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