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Rio has already demonstrated it's interest in Adina by JV-ing...

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11/03/24

15:16

Post #: 72842606
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Originally posted by BAU: ↑

I wouldn't think RIO would be interested in Adina unless/until it is over 100mt and has a mine life of 20 years or greater.

Don't know if they would be prepared to have their own geo's extrapolate the expected size of Adina and strike early or if they will wait for the DFS/PFS and 3rd MRE upgrade at the end of the year.

If Adina gets over 100mt and 20 year LOM then you would expect RIO and a few others showing interest, a vehicle manufacturer looking for vertical integration may be the big sleeper here.

But the magic numbers are 100mt+ or greater and 20yr LOM.

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Rio has already demonstrated it's interest in Adina by JV-ing with Midland on nearology.

WR1 Price at posting: 91.0¢ Sentiment: Buy Disclosure: Held
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Last $1.29		Change -0.025(1.91%)		Mkt cap ! $243.2M

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