Sometimes a board has to concede that there are deposits with better economics, which they appear to have done. They have identified a better value proposition and seem to be willing to implement it. The opportunity was not always available, so don’t be too hard on them if they defer the mining of Mt Peake.
I’m not really suggesting they do either deposit as a first choice. The best thing they could do would be to secure a supply of V slag, but that would be a tall order and the company would have to be prepared to become a subsidiary of one of the dominant players.
TNG Price at posting:
13.0¢ Sentiment: None Disclosure: Not Held
