I certainly agree Simon. Let's hope it breaks 26c tomorrow and shoot towards the 30s level.
Speaking of valuations, Peter Cook has stressed in the recent Sydney Investorium and also in the April 2014 presentation that MLX has yet to be accorded the rightful valuations of a PROFITABLE gold miner cum SIGNIFICANT tin producer in the Western world. From 170koz in 2014, this will shoot up to 270koz when the Central Murchison project starts producing and 350koz once the Rover assets come in play. And it is going to be a VERY profitable concern with an average AISC sub A$1k/oz.
And with the looming tin shortage in the coming years, it all bodes really well for MLX.
With all the positives mentioned plus the fantastic leadership at the helm of MLX , I think Cowen's TP A$0.50 is not unrealistic. We could very well surpass this TP if the price of gold recovers and tin shoots above the $30k/tonne region.
MLX Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)