Metals X Southern Cross Equities Buy. 60c (12-month target)
CENTRAL to any good fortune for stock pickers choosing Metals X is its ability to restart the Renison tin mine in Tasmania. Renison has had a chequered 100-year history, but Metals X wants to build an integrated tin business using ore from Renison and combining it with production from nearby Mt Bischoff to ensure the Renison tin concentrator operates at maximum capacity. Metals X hopes to have Renison up and running within 12 months and, in the meantime, Southern Cross believes it will pocket $30 million-plus in revenues from its Collingwood tin project and royalties from its West Australian nickel holdings. But, according to Southern Cross, if Metals X can get Renison right, it could boost tin production to 15,000 tonnes per annum -- about 4 per cent of global market -- and generate up to $100 million in EBITDA per annum.
From the australian
MLX Price at posting:
0.0¢ 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)