WSA, MCR, SGX, or NIC?, page-5

Great post.

I'm feeling MCR is very well positioned - all of their mines have been very well maintained, they have attractive high-grade resources and reserves with plenty of upside.

MCR have also renegotiated their offtake agreement with BHP and far more favourable terms than previous, and are do not have to manage their own concentrator.

WSA - also like (and HOLD), but Cosmos . . . hmm. . . plenty of risk however SGQ could be a good bolt-on. Not seeing sufficient growth at Forestonia either which is a concern..

IGO - have a good exploration strategy in play, but I feel it's a long game out in the Fraser Range. They need a discovery within the next 18-24 months, as it will take another 18-24 months to develop (at best) - this places it very close to Nova end of mine life. At least Tropicana will keep them well funded. The NT projects for base metals appear to be pointless - there is no infrastructure to transport concentrate to a port, this places the size of the prize somewhere in the order of Mt Isa - a Doolguna discovery wouldnt cut it IMO. Better to increase focus and funds at their enormous Fraser Range tenement holdings.