This is the brilliant thing about sunk capital. The others have already spent hundreds of millions to turn Nifty into a beast over the years. But frustrated shareholders, incompetent management and the like, meant they were willing to almost give-away Nifty in a fire sale to just be done with the drama.
Whilst that means Nifty's got a bad-rep and has been blatantly ignored by some, this is what has created an amazing opportunity for astute investors who are able to look at this with fresh eyes.
Whilst I'm sceptical if they can indeed sell $100m worth of equipment... there's clearly been more than that figure spent on the site in the past. If this is realised - then following the sale of assets, combined with our $20m cash reserves, our current market cap is theoretically 150% backed by cash.
Imagine any other stock on the market holding $120m in cash with an $80m MC. When people cotton-onto companies like these, a 50% rerate can occur in a matter of days... It's insane how much value is on offer at the current share price. Just through the sale of excess equipment laying around - everything else is effectively free.
So what's for free? $19.7 Billion AUD of resource.
1,269,700t+ of Copper [$13,048,980,360] 18,550t of Cobalt [$1,521,100,000] 28,800oz of Gold [$55,296,000] 574,000oz of Silver [$14,694,400] Total: USD $14,640,070,760 as of 20/03/22 (The above excludes the recent drilling campaign)
....As well as the following existing infrastructure:
2.8 Mtpa sulphide concentrator 25ktpa copper cathode heap leach SX/EW facility 21 MW gas turbine power station Full heavy vehicle workshops Accommodation village Fully sealed all-weather airstrip
CYM Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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